MORGAN STANLEY TO ACQUIRE SOLIUM CAPITAL
American multinational investment bank and financial services company, Morgan Stanley has signed a deal to buy Calgary-based Solium Capital Inc. in a cash deal valued at about $1.1 billion. Under the agreement, Morgan Stanley will pay $19.15 per share for Solium, which helps companies manage employee stock plans.
Solium CEO, Marcos Lopez says the company’s leadership team is expected to remain in place. The deal is subject to the approval by a two-thirds majority vote by shareholders.
MOVIE GOERS SHOWING NO SIGN OF SUPERHERO FATIGUE If the U.S. box office’s record-breaking 2018 is any indication, it is safe to say that superhero movie fatigue doesn’t exist with movie goers and Hollywood is all in expecting the trend to continue for 2019. Movies hauled in close to $12 billion domestically as movie goers hit the theaters to view last year’s blockbusters, especially superhero films as four of the top five highest-grossing films in 2018, four were in the superhero genre. Audiences also want to see these big-budget, action-packed films on the big screen and will pay to do so. Disney’s “Black Panther” garnered more than $700 million domestically and an additional $646.8 million internationally, during its run-in theaters, making it the third-highest-grossing movie in U.S. history. Continued interest in superhero flicks bodes well for Disney, which is slated to release two more Marvel films in 2019; “Captain Marvel” next month and “Avengers: Endgame” in May of this year. All of the directors of Solium, who collectively control 19 per cent of the company, have agreed to support the purchase with of course subject to regulatory approval, once given the deal is expected to close in the second quarter of 2019.
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FEBRUARY 2019 • SPOTLIGHT ON BUSINESS MAGAZINE
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