Disney’s Marvel acquisition: a strategic financial analysis

As you probably know, in August 31, 2009 Disney company announced its acquisition of Marvel Entertainment, Inc. From my point of view the main idea of this article is to check fairness and adequacy of price paid by Disney for Marvel. So, the instrument which the author used to check price is making a business valuation of Marvel company on the date of acquisition by himself.
First of all, the author remind us about three popular approaches used in pricing the acquisitions