Pixar Shareholders OK Acquisition by Disney
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From Associated Press
Shareholders of Pixar Animation Studios voted to approve the company’s acquisition by Walt Disney Co. for $7.4 billion in stock.
The vote made the studio a subsidiary of Disney and made Pixar Chief Executive Steve Jobs the largest holder of Disney stock, with about a 7% stake.
The deal is aimed at restoring Disney’s luster as a leader in animated films. Disney’s efforts have faltered in the last 10 years while Pixar’s films have been huge successes.
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