Pursuits
AMC Makes Final Carmike Bid of $1.2 Billion to Lure Holdouts
- New deal terms represent 10% increase over prior terms
- $33.06-a-share offer may not be enough for holders seeking $40
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AMC Entertainment Holdings Inc., controlled by Chinese billionaire Wang Jianlin, sweetened its offer to buy Carmike Cinemas Inc. by about 10 percent to $1.2 billion, seeking to persuade holdout shareholders to accept the takeover.
Carmike investors will get the choice of receiving $33.06 in cash or 1.0819 shares of AMC’s Class A common stock, Leawood, Kansas-based AMC said in a statement today. The deal, which also includes the assumption of Carmike’s net debt, represents a premium of about 32 percent over Carmike’s stock price on March 3 -- the day before the original transaction was announced.