|Bid||0.00 x 5400|
|Ask||590.00 x 94300|
|Day's range||561.00 - 575.00|
|52-week range||508.50 - 744.90|
|PE ratio (TTM)||15.65|
|Earnings date||9 Aug 2017 - 14 Aug 2017|
|Forward dividend & yield||N/A (N/A)|
|1y target est||691.67|
One of the biggest shareholders in Cineworld has expressed concern about the company's $3.6 billion (£2.7 billion) takeover of bigger U.S. rival Regal Entertainment, saying it is uncomfortable with the debt the British business will take on to finance the deal. The $23-a-share acquisition will transform FTSE 250-listed Cineworld into the second biggest cinema chain in the world by number of screens, with 9,542 in Europe and the United States. Richard Marwood, a fund manager at Royal London Asset Management (RLAM), which is Cineworld's fourth-biggest shareholder with a 3.9 percent stake according to Thomson Reuters data, said the deal was "a bit of a surprise".
Investment banks could earn as much as $183 million (£136.2 million) in fees from a flurry of deal-making by British companies this week, according to estimates by Freeman Consulting Services. Online gambling operator GVC's possible takeover of Ladbrokes Coral, which may value the bookmaker at up 3.9 billion pounds and was announced on Thursday, could generate fees of about 48 million pounds for banks working on the potential cash-and-shares deal, Freeman estimated. Meanwhile, shopping centre owner Hammerson's 3.4 billion-pound offer for rival Intu Properties, disclosed on Wednesday, is projected to earn up to 39 million pounds for the banks involved.
The takeover would put the combined company in a better position to take on industry leader AMC Entertainment Holdings Inc , and give it more scale to fight growing competition from Netflix Inc, Apple Inc and other digital outlets. Regal is three times larger than Cineworld by market value and the combined company would have about 9,542 screens, with 7,315 screens in the United States. Cineworld Chief Executive Mooky Greidinger brushed aside those concerns.
Dec (Shanghai: 600875.SS - news) 5 (Reuters) - Britain's Cineworld Group Plc (LSE: CINE.L - news) sealed an agreement to buy larger U.S. peer Regal Entertainment Group on Tuesday for $3.6 billion in cash, a deal that would create the world's second largest movie theatre operator. The takeover would put the combined company in a better position to take on industry leader AMC Entertainment Holdings Inc, and give it more scale to fight growing competition from Netflix Inc (Xetra: 552484 - news) , Apple Inc (NasdaqGS: AAPL - news) and other digital outlets.
Regal Entertainment Group (NYSE:RGC) (“Regal”) announced that it has entered into a definitive merger agreement (“Agreement”) with Cineworld Group PLC (LON: CINE) (“Cineworld”) for Cineworld, the U.K.’s largest cinema operator, to acquire Regal, a leading motion picture exhibitor owning and operating one of the largest theatre circuits in the U.S. Under the terms of the Agreement, Regal stockholders are to receive $23.00 in cash for each share of Class A and Class B common stock, for a total transaction value of $5.9 billion, including the assumption of debt and net of cash acquired. The offer price represents a premium of 43.2% over Regal’s 30-day unaffected weighted average share price of $16.06.
Regal Entertainment Group announced that it has entered into a definitive merger agreement with Cineworld Group PLC for Cineworld, the U.K.’s largest cinema operator, to acquire Regal, a leading motion picture exhibitor owning and operating one of the largest theatre circuits in the U.S.
European hedge funds Bodenholm Capital and Westray Capital Management revealed they had taken short selling positions on some media companies, bets that their stock prices will fall, on the back of changing consumer habits. Online services like Netflix (NFLX.O) and Amazon (AMZN.O) will continue to eat away at the business of traditional media companies, fund managers for both firms said at the Sohn Conference in London on Thursday. Per Johansson of Bodenholm, which has assets under management of around $700 million (£518.2 million), said that the fund has take a short position in the shares of German media company Prosiebensat 1 (PSMGn.DE).
European hedge funds Bodenholm Capital (Other OTC: CGHC - news) and Westray Capital Management revealed they had taken short selling positions on some media companies, bets that their stock prices will fall, on the back of changing consumer habits. Online services like Netflix (Xetra: 552484 - news) and Amazon will continue to eat away at the business of traditional media companies, fund managers for both firms said at the Sohn Conference in London on Thursday.
By Julien Ponthus and Helen Reid LONDON (Reuters) - British shares missed out on a rising tide across European bourses on Wednesday as sterling rallied to a two-month high following reports Britain and ...
** Movie-theater chain Regal up 4 percent before the market open on Wednesday, a day after confirming it is in talks to be bought by British peer Cineworld for $3.6 billion ** Rally adds to 7.6 percent ...
NEW YORK/LONDON (Reuters) - Cineworld Group Plc, a British operator of movie theaters, is in talks to acquire U.S. peer Regal Entertainment Group for approximately $3.6 billion in cash, the companies said on Tuesday. A deal between the two would put the combined company in a better position to take market share from U.S. industry leader AMC Entertainment Holdings Inc, and also give it more scale to fight increasing competition from Netflix Inc, Apple Inc and other digital outlets. Regal said in a statement that Cineworld's all-cash offer values it at $23 per share, confirming an earlier Reuters report.
LONDON, Oct (Shenzhen: 000069.SZ - news) 5 (Reuters) - Protesters chanted and waved banners at the opening of the BFI London Film Festival as a long-running staff pay dispute with a cinema chain spilled over into red carpet territory. Around 50 staff of London's Picturehouse cinemas, owned by Cineworld, have been demanding their pay be brought in line with the 9.75 pounds ($12.85) per hour recommended by the Living Wage Foundation, a campaigning group. British Hollywood actor Andrew Garfield, known for playing Spider-Man (Swiss: MAN.SW - news) in the Marvel film franchise, spoke out in support of the protesters in a red carpet comment to reporters on Wednesday evening.
** JPMorgan says achieving outperformance in UK small and mid cap equities will become increasingly challenging in the months ahead ** Broker says as an asset class, small and mid caps are more leveraged ...
The following FTSE 100 companies will go ex-dividend on Thursday, after which investors will no longer qualify for the latest dividend payout. According to Reuters calculations at current market prices, ...
Cineworld Group Plc (LSE: CINE.L - news) has reported half year revenue up 17.8% off the back of strong performances from films such as Beauty And The Beast and La La Land. Box (Frankfurt: 3BX.F - news) office revenue was up 17.7% to £267.2m for the half year ending 30 June and admissions increased by 10% to 50.7 million.
** British cinema operator Cineworld Group up 2.8 pct, highest in 2 months ** H1 revenue up 17.8 pct, boosted by strong box office performance ** Brokerage N+1 Singer upgrades stock to "buy" ...