What? netflix's market cap is ~25% of what disney is worth, I would be shocked to see disney or really any company make such a large acquisition without it really just being a merger.
You can look at stock price sure but Disney revenue has been going up by billions year over year and I don't see that changing much, even if ESPN starts to shrink, because of the valuable movie IP they have.
Some of the recent chip maker mergers come to mind but that's a different market - when does a company merge with a company that by revenue is ~10x smaller and by net income 2 orders of magnitude smaller?