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Pixar also wanted to finance its films itself and make 100% of the profits, with Disney only paying 10-15% distribution fees. [44] More importantly, pixar demanded, as part of a distribution agreement with Disney, control of films already in production under its former agreement, including The Incredibles (2004) and Cars (2006). Disney found the terms unacceptable, but Pixar would not give in. [44] The boards of directors of Disney and Pixar approved the transaction subject to approval under the Hart-Scott-Rodino Antritrust Improvements Act, certain merger control rules outside the United States and other normal closing conditions. The deal must be approved by Pixar shareholders. Jobs, which owns approximately 50.6% of the outstanding Pixar shares, has agreed to vote in favor of the transaction a number of shares corresponding to 40% of the outstanding shares.

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