Disney deal gives Marvel Entertainment the scale it needs

Walt Disney Co. (DIS) has agreed to acquire Marvel Entertainment Co. (MVL) for $4 billion, merging the corporate parent of Mickey Mouse and Hannah Montana with that of Spider-Man and the Incredible Hulk. It is the second multi-billion deal announced today. Earlier today, Baker Hughes Inc. (BHI) agreed to acquire smaller rival BJ Services Co. (BJS) for $5.5 billion.

Under the terms of the agreement and based on the closing price of Disney on August 28, 2009, Marvel shareholders would receive a total of $30 per share in cash plus approximately 0.745 Disney shares for each Marvel share they own. Shares of New York-based Marvel soared more than 25 percent in pre-market trading. They have risen 14 percent this year. Disney, which is based in Burbank, Calif., fell 84 cents, or three percent, to $26.