Steve Jobs' Pixar Deal with Disney Finally Closed

On Friday, Pixar Animation Studios' shareholders formally voted to accept the purchase by and merger with Disney in a brief meeting in San Francisco. The vote was a no-brainer since Apple CEO Steve Jobs owned 40 percent of Pixar. The $7.4 billion all-stock deal had already been approved by the respective corporate boards and government regulators.

Pixar shareholders received 2.3+ shares of Disney stock ($29.09--Friday close) for each share of Pixar ($67.69--Friday close). Pixar remained in tact in Emeryville, CA, including retaining its name, while its top executives got top animation positions at Disney and Steve Jobs got a seat on Disney's board as Disney's largest shareholder. And while Pixar has become a wholly-owned subsidiary of Disney, it actually looks to us more like Pixar bought Disney. [Bill Fox]