AMC Theatres to Acquire Odeon & UCI Cinemas Group
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MKM Partners Reiterates Buy on AMC Entertainment (AMC) as Odeon Acquisition Creates Opportunity
July 13, 2016 10:55 AM EDTMKM Partners reiterated a Buy rating and $33.00 price target on AMC Entertainment (NYSE: AMC) as the company's Odeon acquisition creates opportunities. AMC is paying roughly $1.2bn for Odeon's 242 theatres and 2,236 screens. Odeon produced an EBITDA margin last year of 12.7%, versus European peers Cineworld, Vue... More
UPDATE: Carmike Cinemas (CKEC) Holder Says Offer Under $40/Share is 'Travesty of Fairness' - Bloomberg
July 12, 2016 3:11 PM EDT(Updated - July 12, 2016 3:20 PM EDT)
Carmike Cinemas (NASDAQ: CKEC) holder Chris Mittleman said that today's Odeon deal shows AMC (NYSE: AMC) is undervaluing Carmike, according to Bloomberg, citing an emailed statement.
Mittleman thinks any offer under $40 per share is a "travesty of fairness."
UPDATE - The following press release was issued this afternoon:
Mittleman Brothers, LLC, one of the largest shareholders of Carmike Cinemas Inc. (NASDAQ: CKEC), which currently controls approximately 2.33 million CKEC shares, 9.6% of... More
AMC Entertainment (AMC) Remains Committed to Carmike Cinemas (CKEC) Deal
July 12, 2016 6:58 AM EDTIn light of the announcement made today by AMC Entertainment Holdings, Inc. (NYSE: AMC) that it will be acquiring Odeon & UCI Cinemas Group, AMC wanted to reiterate its views on a potential acquisition of Carmike Cinemas (Nasdaq:... More
