Two months after the original announcement of their plans to buy LucasFilm, The Walt Disney Co. has finally completed the $4.06 billion acquisition of the iconic studio. The terms of the merger agreement has Disney issuing 37,076,679 shares while making a cash payment of $2,208,199,950. The announcement was made by Disney at the close of trading on the New York Stock Exchange last week on Friday, where Disney stocks closed at $50 a share.
The initial announcement for the acquisition was made last October 30. Under the merger, Lucas’ successor Kathleen Kennedy will be serving as the president of Lucasfilm and will oversee all aspects of the Star Wars franchise. She will be reporting directly to Disney Studios chairman Alan Horn.
“We’re thrilled to welcome Lucasfilm to the Disney family,” said Disney topper Robert Iger in a statement. “Star Wars is one of the greatest family entertainment franchises of all time and this transaction combines that world class content with Disney’s unique and unparalleled creativity across multiple platforms, businesses, and markets, which we believe will generate growth as well as significant long-term value.”