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Sony Buyout Rumblings Spur Pixar Stock Spike


Sony Buyout Rumblings Spur Pixar Stock Spike

A rumor that Sony was set to make a buyout bid for Pixar caused the computer animation studio’s stocks to rise $2.30 per share Thursday, according to The 3.5% increase drove Pixar prices up to $68.11 per share based on speculation that Sony was prepared to purchase the company at $75 per share or $4.1 billion.

Analysts say the chances of a Sony takeover are highly unlikely given Pixar’s healthy profit margin and firm market standing. Sony is one of the studios vying to replace Disney as the CG house’s distribution partner, but the fact that Pixar CEO Steve Jobs controls 60% of the company’s shares apparently raised a red flag among some Wall Street players, given the Apple chairman’s association with Sony.

The Motley Fool’s Rick Aristotle Munarriz comments in an article, "Fun as they are, rumors tend to be false, but the good ones offer some fathomable sense of possibility. This one doesn’t."

MGM, Time Warner and News Corp. are also said to be courting Pixar for a distribution deal.

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