Letko Brosseau Intends To Vote AGAINST IMAX Corporation's Proposal To Take IMAX China Holding, Inc Private
Portfolio Pulse from Benzinga Newsdesk
Letko Brosseau, an investment manager controlling about 1.7% of IMAX China Holding, Inc's shares, plans to vote against IMAX Corporation's proposal to take IMAX China private. Letko Brosseau believes the offer undervalues IMAX China and benefits IMAX Corporation at the expense of minority investors. The offer comes as IMAX China is recovering from the COVID-19 pandemic, with all theatres reopened and significant recovery of revenue and profit.
September 22, 2023 | 3:35 pm
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IMAX Corporation's proposal to take IMAX China private is facing opposition from Letko Brosseau, which could potentially impact the success of the transaction. The perceived undervaluation could also negatively affect investor sentiment.
Letko Brosseau's opposition to the proposal could potentially sway other minority shareholders to vote against the deal, making it harder for IMAX Corporation to succeed in taking IMAX China private. Additionally, the perceived undervaluation of IMAX China could negatively affect investor sentiment towards IMAX Corporation, potentially leading to a decrease in its stock price.
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