TY  - JOUR
AB  - Purpose This paper discusses the concept of hidden assets in the context of Disney’s 2009 acquisition of the Marvel Entertainment Group (Marvel), and its value realization activities post-acquisition.Design/methodology/approach The paper presents a hidden assets-based value realization analysis of the 2009 acquisition of Marvel by Disney. It draws on a previously published case study of that acquisition as well as further research conducted by the author.Findings The Disney-Marvel acquisition supports the view that hidden assets-based analysis can be a powerful M&A tool and an equally powerful value realization tool when managed strategically over time.Practical implications The Disney acquisition of Marvel is a dramatic example of how knowledge of hidden assets can be used to do a deal in a competitive marketplace and how the disciplined management of those assets over time can realize a “blue ocean” of value post-acquisition.Originality/value This is the first paper we are aware that evaluates the hidden assets of the Disney-Marvel acquisition. It follows another paper that evaluated the acquisition (Joseph Calandro, Jr., “Disney’s Marvel Acquisition: A Strategic Financial Analysis,” Strategy & Leadership, Vol. 38, No. 2 (2010), pp. 42-51), which followed a paper that evaluated Marvel’s 1996 bankruptcy filing (Joseph Calandro, Jr., “Distressed M&A and Corporate Strategy: Lessons from Marvel Entertainment Group’s Bankruptcy,” Strategy & Leadership, Vol. 37, No. 4 (2009), pp. 23-32).
VL  - 47
IS  - 3
SN  - 1087-8572
DO  - 10.1108/SL-02-2019-0023
UR  - https://doi.org/10.1108/SL-02-2019-0023
AU  - Calandro Jr. Joseph
PY  - 2019
Y1  - 2019/01/01
TI  - M&A deal-making: Disney, Marvel and the value of “hidden assets”
T2  - Strategy & Leadership
PB  - Emerald Publishing Limited
SP  - 34
EP  - 39
Y2  - 2024/09/21
ER  -