Although it looked like Disney‘s deal to acquire online video producer Maker Studios for $500 million had hit a snag, yesterday’s Maker shareholder vote approved the Disney bid. The move swiftly knocked out a counter-offer from Relativity. Maker co-founder and former CEO Danny Zappin and three other former execs last week filed a lawsuit to prevent the takeover, claiming documents Maker sent to shareholders about the merger agreement neglected to mention a pending lawsuit that alleges Maker directors issued shares to themselves to dilute Zappin’s stake. Yesterday, in a prepared statement, a Maker spokesperson said: “As per the announcement made on March 24, Maker Studios has entered into a merger agreement with The Walt Disney Company. The agreement has been approved by Maker Studios’ Board of Directors and the majority of its shareholders and is expected to close in the next few weeks, subject to regulatory approval.” Further sealing any doubt the acquisition remains on track as planned, a judge yesterday denied the Zapplin restraining order.
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