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News: General

AMC Acquisition of Carmike Theatres Under Threat

Tuesday, March 8, 2016   (0 Comments)
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From The Wrap:

The top U.S. theater chain [AMC], controlled by China’s Dalian Wanda Group, is currently the focus of an antitrust probe

Prospects for the finalization of AMC Theatres’ $1.1 billion acquisition of Carmike Theatres grewcloudier Tuesday, after shareholders in the targeted chain said they would oppose the deal.

Carmike shares edged up and AMC’s were down after Mittleman Bros., the leading Carmike shareholder with 7.1 percent of its stock, said it would fight the deal.

At the same time, analysts’ increasing focus on the intense scrutiny the deal will face from the Justice Department — which is currently investigating AMC over alleged antitrust violations — is certain to create moredownward pressure on the stock.

The ramifications of the deal, or its unraveling, are global.

- Read the full story at TheWrap.com



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