Takeover speculation boosts Pixar shares

By | 2006-01-05T11:28:23+00:00 January 5th, 2006|Categories: DAPs Magic News|0 Comments

Pixar shares rose the most in almost two months amid speculation the computer-animation film studio may be purchased, possibly by distribution partner Walt Disney Co., Jefferies & Co. analyst Robert Routh said.

Pixar added $4.20, or 7.8 percent, to close at $58.16 on the Nasdaq Stock Market, the biggest one-day percentage gain since Nov. 9. Most of the rise occurred in the last 40 minutes of trading.

Routh, who doesn’t own Pixar shares, declined to say whether he thought a takeover may occur. He said there was also talk Pixar may announce a new movie-distribution pact with Disney. Under their current agreement, Disney distributes Pixar films. The two split costs and profit equally after Disney gets a distribution fee.

Pixar spokesman Nils Erdmann and Disney spokeswoman Michelle Bergman would not comment.

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