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Regal Cinemas Is in Talks for Merger With U.K.'s Cineworld

  • International merger would create bigger rival to leader AMC
  • Possible $23-a-share bid too low, Loop Capital analyst says
Inside A Regal Entertainment Group Live Stadium Cinema Location Ahead Of Earnings Figures
Photographer: Patrick T. Fallon/Bloomberg
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U.K.’s Cineworld Group Plc is in talks to purchase Regal Entertainment Group, the U.S. movie-theater chain controlled by billionaire Philip Anschutz, for about $3.6 billion to tap into the world’s largest market and create a bigger rival to industry leader AMC Entertainment Holdings Inc.

Negotiations concerning a price for Regal of $23 a share may still fall apart, the companies said in separate statements, confirming reports Tuesday by Reuters and Bloomberg. Cineworld declined as much as 17 percent, the most in a decade, after saying it would fund the acquisition with a stock sale and debt. Regal gained as much as 7 percent.