Disney buys Pixar for $7.4 billion

Disney just announced the acquisition of Pixar for about $7.4 billion. 2.3 Disney shares will be exchanged for every Pixar share, including the shares of Pixar’s largest shareholder, Steve Jobs, who owns 50.6% of all outstanding shares. Jobs joins the Disney board of directors as part of the deal which is expected to close this summer.

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