Cineworld Agrees To Buy Regal Entertainment For $3.6 Bln

Cineworld Agrees To Buy Regal Entertainment For $3.6 Bln

Cineworld Agrees To Buy Regal Entertainment For $3.6 Bln

Sky News has learnt that the Asian city state's Government Investment Corporation (GIC) will participate in a £1.7bn rights issue being arranged to help fund the deal, which will be one of the largest foreign takeovers by a British company this year.

Regal Entertainment Group (NYSE:RGC) last posted its quarterly earnings results on Tuesday, October 24th.

Other large investors also recently made changes to their positions in the company.

Christian charity concerned by Facebook's new app for kids
The messages sent by the kids from the Messenger Kids app will be received by the recipients through the regular Messenger app. Messenger Kids is a simplified, locked-down version of the messaging app Facebook that offers those over 13 to use the app.

Shares of Cineworld were down 3.7% in London trading on Tuesday morning, bringing the drop in shares in 2017 to 7%. Regal Entertainment Group said Cineworld has committed to having a strong presence in Knoxville.

The acquisition price of $23 per Regal share values the entire issued and to be issued share capital of Regal at $3.6 billion or about 2.7 billion pounds, with an implied enterprise value of $5.8 billion or 4.3 billion pounds.

A number of key analysts, polled by FactSet, shared their views about the current stock momentum. KCG Holdings Inc. now owns 36,720 shares of the company's stock valued at $799,000 after buying an additional 15,059 shares during the last quarter. For the next 5 years, Regal Entertainment Group is expecting Growth of 10% per annum, whereas in the past 5 years the growth was -0.94% per annum. The company reported $0.07 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.04 by $0.03. Regal Entertainment Group had a net margin of 4.41% and a negative return on equity of 16.36%. The firm had revenue of $716.00 million for the quarter, compared to analysts' expectations of $701.66 million. Royal Bank of Canada now owns 724,860 shares of the company's stock worth $14,831,000 after acquiring an additional 106,214 shares during the last quarter.

Honor 7X to launch globally today: Expected price in India, specifications, etc
On the camera front, Honor 7x has an upgraded dual rear camera setup with a 16 megapixel + 2 megapixel sensor duo combination. Connectivity options are- Wi-Fi 802.11 a/b/g/n/ac, Bluetooth 4.2, 3.5mm audio-jack, GPS/A-GPS, NFC, USB Type-C, and 4G VoLTE.

Regal's profit dropped to $11 million during the three months that ended September 30, down 73% from the same quarter a year ago. The ex-dividend date of this dividend is Friday, December 1st. At present, 0 analysts call it Sell, while 4 think it is Hold. Regal Entertainment Group's dividend payout ratio (DPR) is 106.02%. RGC has been the topic of several analyst reports. The stock tapped a 52-week high of US$23.56 while the mean 12-month price target for the shares is US$19.44. MKM Partners reiterated a "buy" rating and set a $20.00 price objective on shares of Regal Entertainment Group in a report on Monday, September 18th. Regal Entertainment Group has an average rating of "Hold" and an average price target of $26.21. The stock is down 19 percent since news of the talks emerged. Also, EVP Peter B. Brandow sold 20,233 shares of the stock in a transaction that occurred on Thursday, March 9th. The disclosure for this sale can be found here.

Regal Entertainment Group is an operator of theatre circuits in the United States.

Kevin Durant got thrown out of the game ... again
The officials apparently had enough of their back-and-forth and made a decision to eject both of them. We're getting way too emotional, myself included.

Latest News