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Pixar mulls $7 billion offer from Disney

Jan. 24, 2006 at 8:15 AM   |   Comments

LOS ANGELES, Jan. 24 (UPI) -- Walt Disney Co. directors OK'd a $7 billion offer to buy Pixar Animation Studios, whose board was meeting Tuesday to consider the all-stock bid.

If Pixar's board, which is led by Steve Jobs, accepts the offer, an announcement regarding the deal could be possible Tuesday, The Los Angeles Times reported.

Disney reportedly is offering about $59 a share for the company that pioneered computer animation with such blockbusters as "The Incredibles," "Finding Nemo" and the "Toy Story" films.

If Pixar agrees, it would make Jobs the top Disney shareholder. Analysts openly wonder about the feasibility of Jobs, not known as a passive investor, and Disney chief executive Bob Iger getting along.

Jobs and Eiger's predecessor, Michael Eisner, were famously incompatible and eventually broke their companies' once-lucrative relationship.

"It may be a fairly lengthy adjustment process," said independent media analyst Harold Vogel. "Steve Jobs is known to be quite active in everything he does -- he won't sit back quietly."

© 2006 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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