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)

Touchdowns & Team Building: Why Ottawa’s Top Companies Are Hosting Events with the REDBLACKS
With a renewed roster and sold-out premium spaces in back-to-back seasons, the REDBLACKS are doubling down on game day experiences that aren’t just for die-hard fans, they’re for forward-thinking businesses

A new signature event is set to grace the Ottawa business and philanthropic calendar this summer. CHEO Foundation and the prestigious The Royal Ottawa Golf Club are proud to announce
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.