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Opinion
Tara Lachapelle

AMC's Brexit Bargaining Power

After striking a deal in the U.K., it has a stronger hand in talks with Carmike.

Carmike shareholders' quibbling over AMC Entertainment's takeover offer could yet pay off -- if they don't push their luck. 

AMC, the U.S. movie theater chain controlled by Wang Jianlin's Dalian Wanda Group, had postponed the vote for the at-risk Carmike transaction to July 15 from June 30 after some top investors dug in their heels over the price (rightly so -- see why here). Two proxy advisory firms also recommended voting against the sale. But while that was simmering, AMC was working out a separate acquisition of Odeon & UCI, a U.K.-based cinema chain, seizing on the sudden valuation opportunity that was presented by the Brexit vote to close a deal it had coveted for a while.