Barron’s: Apple Could Buy Disney
February 26th, 2006 at 2:00 PM - News by Brad Cook
Barronis over the weekend speculated (subscription required) that Apple could make a bid to buy Disney, now that CEO Steve Jobs is its largest shareholder and sits on its Board of Directors. The financial publication quoted analyst Christopher Whalen as saying: "I think he has an open option."
Mr. Whalen, who is managing director of Institutional Risk Analytics, continued: "Disney is badly undervalued right now. Jobs might get an opportunity to take it out." Greg Morcroft, writing about the news for MarketWatch, added: "Whalen argues that Jobsi unique familiarity with both the content and technolgy sides of Hollywood make the case for a bid more compelling."
The Orlando Business Journal noted that Disneyis stock was up and Appleis was down in early Monday trading, in light of the speculation. Appleis shares rebounded before ending the day at US$70.99, down 0.66%. Disney closed trading at $28.39, up 1.47%. Its stock never dipped into negative territory.
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