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Billionaire Wang’s Bid for Global Theater Behemoth Falters

  • AMC Entertainment appears unwilling to go above $30 a share
  • Investor opposing deal criticizes decision to put off vote
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Carmike Postpones Shareholder Vote on Sale to AMC

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AMC Entertainment Holdings Inc.’s $1.1 billion deal to acquire Carmike Cinemas Inc. is on the verge of collapse, a setback for Chinese billionaire Wang Jianlin’s plans to build the world’s largest movie theater chain.

AMC, controlled by Wang, China’s second-richest man, said it’s prepared to walk away from its proposed $30-a-share acquisition after facing opposition from Carmike’s largest stockholders, who say the price is too low.