Disney Makes Offer to Clear Backdated Pixar Stock Options
Los Angeles - April 10, 2007
In an attempt to finally clear up issues surrounding the Backdating of Stock Options, Disney has offered to exchange the $323 million worth of Pixar Stock Options. Stock anaylists are not surprised at either the extent of the amount needed to be exchanged nor by the move. "(It) was generally within the range of what we thought would happen." said Dave Miller of Sanders Morris Harris, "I'm not really that concerned. I think that this is something that Disney will settle and this is something that will quickly go away."
Disney stock (DIS on the NYSE) is up 6 cents on the news.
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