DISNEY, CAP CITIES/ABC TO MERGE

NEW YORK -- Walt Disney Co. and Capital Cities/ABC have agreed to merge in a deal valued at about $19 billion.merger ever and the second-biggest takeover in the history of U.S. business, topped only by the $25 billion acquisition of RJR Nabisco by Kohlberg Kravis Roberts & Co. in 1989.Under the terms of the agreement, which has been approved by the boards of each company, Cap Cities/ABC shareholders

NEW YORK -- Walt Disney Co. and Capital Cities/ABC have agreed to merge in a deal valued at about $19 billion.

merger ever and the second-biggest takeover in the history of U.S. business, topped only by the $25 billion acquisition of RJR Nabisco by Kohlberg Kravis Roberts & Co. in 1989.

Under the terms of the agreement, which has been approved by the boards of each company, Cap Cities/ABC shareholders will have the right to receive one share of Disney common stock and $65

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