IMAX Files Proposal To Acquire Outstanding 96.3M Shares In IMAX China For HK$10 Per Share In Cash
Portfolio Pulse from Benzinga Newsdesk
IMAX Corporation has filed a proposal to acquire the remaining 96.3M shares in IMAX China for HK$10 per share in cash. This offer represents a 49% premium to the 30-day average closing price. If approved, IMAX Corporation will own 100% of IMAX China.
July 12, 2023 | 10:02 pm
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IMAX Corporation's proposal to acquire the remaining shares in IMAX China could lead to full ownership of the subsidiary. The offer price is a 49% premium to the 30-day average closing price.
The acquisition proposal by IMAX Corporation is significant as it aims to acquire the remaining shares in IMAX China, leading to full ownership. The offer price, which is a 49% premium to the 30-day average closing price, indicates a strong commitment from IMAX Corporation. This could potentially boost investor confidence and positively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100