Cineplex Inc. says two influential proxy advisory services have recommended shareholders support a takeover of the company by U.K.-based Cineworld Group PLC.
The movie theatre chain says Institutional Shareholder Services Inc. and Glass, Lewis & Co. have both recommended shareholders back the friendly deal that will see Cineworld pay $34 per Cineplex share in cash.
Cineplex shareholders are set to vote on the deal at a meeting in Toronto on Feb. 11.
OBJ360 (Sponsored)
Foster employee wellness and show your appreciation with Ingenium
Helping employers better connect with employees, and their families, is the thinking behind the corporate memberships offering from Ingenium.
Connecting homebuyers with convenient, attainable options in Ottawa’s west end
Minto Communities has been building new homes, master-planned communities, and condominiums for almost 70 years across North America, always putting homeowners and homebuyers first. To ensure the best quality of
The board of directors of Cineplex has unanimously recommended that Cineplex shareholders vote in favour of the agreement.
If the deal is approved, Cineplex and its 165 movie theatres across Canada will become part of Cineworld’s global chain, listed on the London Stock Exchange.
The deal is expected to be completed in the first half of 2020.