Disney to acquire Marvel Entertainment

The Walt Disney Company has reportedly agreed to acquire Marvel Entertainment in a deal worth $4bn (£2.45bn).

Under the agreement, Disney will be granted the rights to Marvel's catalogue of comic book characters, including Spider-Man, Iron Man and the X-Men.

The merger was announced following reports that Disney's shares have plummeted by more than a quarter due to the recession. The firm will purchase Marvel's stock at $30 (£18) in cash, plus 0.745 Disney shares for every Marvel share they own.

"This transaction combines Marvel's strong global brand and world-renowned library of characters including Iron Man, Spider-Man, X-Men, Captain America, Fantastic Four and Thor with Disney's creative skills," said Disney president Robert Iger.

Marvel chief executive Ike Perlmutter added: "Disney is the perfect home for Marvel's fantastic library of characters given its proven ability to expand content creation and licensing businesses. This is an unparalleled opportunity for Marvel to build upon its vibrant brand and character properties by accessing Disney's tremendous global organisation and infrastructure around the world."

Perlmutter will continue to oversee the Marvel properties, and work directly with Disney's global lines of business to build and further integrate the comic book giant's properties.

The board of directors with both firms have given their approval to the deal, which is now subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act. Marvel shareholders must also give their blessing to the merger.