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)

City Building: Goodkey, Weedmark & Associates Ltd.
When he became the director of Goodkey, Weedmark & Associates Ltd. (GWAL), Francis Bann developed his vision for the company by reflecting on how GWAL had created success over its

Custom sleep starts at Obasan: Organic comfort, tailored to you
Obasan believes that superior sleep is essential to a healthy, happy life. That’s why every product it makes is organic, sustainable, and thoughtfully handcrafted in its carbon-neutral Ottawa workshop: So
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.