$140 million kill fee if Disney doesn't get Marvel

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Tue Sep 8, 2009 11:32AM3 comments ›

Tue Sep 8, 2009 — by Glenn Hauman

$140 million kill fee if Disney doesn't get Marvel

I'm a sucker for extra details like this, and ICv2 picked up a doozy:

The Agreement and Plan of Merger for the Disney acquisition of Marvel was filed with the SEC late last week, and among the facts in the 56-page document was the news that there’s a $140 million termination fee under certain circumstances should the deal not close. Those conditions include Marvel’s acceptance of an Alternative Transaction Proposal. While $140 million is only 3.5% of the $4 billion acquisition price, the additional cost raises the hurdle for any competing offers for Marvel.

My question: does that kill fee have to be paid if government scuttles the deal? Say, if antitrust in the US or Europe says no? I gotta read the SEC filing more when I have a chance to breathe...

Jump to comments (3)

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Comments (3)

Inappropriate or promotional comments may be removed.

Tom Fitzpatrick (12:36 PM on Tue Sep 8, 2009)

Ouch! Pity the fool who has to pay the termination fee.

mike weber (3:09 AM on Wed Sep 9, 2009)

I doubt that EU anti-trust enters in, so long as their Eurpoean operations remain separate.

mike weber (3:11 AM on Wed Sep 9, 2009)

Hmmm. Previous attempt seemns to have not posted:

I doubt that EU ant-trust enters in so long as their European (spelt correctly this time, BTW) operations remain unblended.

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