Marvel jumps on acquisition by Disney

By IBT Staff Reporter On 08/31/09 AT 9:24 AM

Shares of Marvel Entertainment soared more than 25 percent in premarket trade after Walt Disney Co announced it will acquire the company and its library of characters including Spider-Man, Iron Man and the X-Men.

Marvel shares last traded at $48.40, up 25.2 percent from their closing price on Friday.

Disney shares closed at $26.84 on Friday.

(Reporting by Rodrigo Campos, Editing by Chizu Nomiyama)

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