Deals

U.K. Chain Cineworld to Buy Regal in $3.6 Billion Theater Deal

Regal holders get $23 a share, funded with equity raise, debt
Cinema owners are merging as they battle the rise of Netflix

Light eminating from a Cineworld Cinema multiplex on Monday 9th March 2015. -- The company, Cineworld Cinemas, are expected to declare their annual results on Thursday 12th March 2015. (Photo by Jonathan Nicholson/NurPhoto) (Photo by NurPhoto/NurPhoto via Getty Images)Photographer: NurPhoto via Getty Images

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By Ville Heiskanen and Joe Easton

December 5, 2017 at 7:41 AM UTC

Updated on

December 5, 2017 at 5:15 PM UTC

This article is for subscribers only.

The U.K.’s Cineworld Group Plc agreed to buy U.S. theater operator Regal Entertainment Group for about $3.6 billion to expand into the biggest movie market.

The $23-a-share deal comes a week after the companies confirmed news reports of takeover discussions, jolting cinema-operator stocks. The price represents a 26 percent premium to Regal’s close on Nov. 27, the day before discussions became public.