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.
Sanofi says it is cooperating with government on dengue vaccine
The Philippines banned a government program, which involved immunizing children with Dengvaxia after releasing Sanofi's findings. The organization has said that it hoped to conduct a full review by the end of the year on the vaccine .
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.
Australia to ban, criminalise foreign interference in politics
Dastyari, who remains in Parliament, had previously said that a Chinese company with links to Beijing had paid a A$1,670 (US$1,275) travel bill for him.
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.
United States trade gap widens in October on record imports
On the other hand, the Commerce Department said the value of exports edged down by less than a tenth of a % to USD195.9 billion. Increased imports of consumer goods, including cellphones, also contributed to the month's rise.