Equities

Reuters reveals Cineworld in talks to acquire Regal Entertainment for $3.6 billion; market reacts

Reuters reveals Cineworld in talks to acquire Regal Entertainment for $3.6 billion; market reacts

Reuters exclusively reported that Europe’s second-largest movie theater chain Cineworld is in talks to buy U.S. peer Regal Entertainment in a $3.6 billion deal that would create a major player in the entertainment industry. Regal shares jumped as much as 16 percent on the news, which was later confirmed by the companies. The Reuters report also broke the price of Cineworld’s offer which valued Regal at $23 per share. If successful, the deal would create a movie theater powerhouse competing with industry leader AMC Entertainment as well as digital firms Netflix and Apple.