Disney's Firm Grip on Marvel
A new term has been added to the very surprising Marvel Inc. and Walt Disney merger. Marvel will now have to fork up $140 million if they decide to take up on another offer from another production company. This further ensures that the buyout will likely occur.
Nytimes.com reports that the termination fee is apparently "3 percent that is the norm in Delaware . . . on a large deal." Fortunately though for Marvel, if there happened to be a plethora of other bidders before the Disney deal, Disney probably would have established an even higher fee.
Disney's hold on Marvel's and their decision making continues, as it will need to be notified of any offer Marvel receives, be it "superior" or otherwise.
Another term agreement, according to Reuters is that Isaac Perlmutter, CEO of Marvel, can "not resign for 'good reason' over a change in his duties and still collect severance benefits."The list goes on, making the future for Marvel and Walt Disney looking more and more unified.
