<article>AMC Entertainment Holdings Inc., controlled by Chinese billionaire Wang Jianlin, sweetened its offer to buy Carmike Cinemas Inc. by about 10 percent to $1.2 billion in cash and stock after some shareholders spurned an earlier bid.</article>

AMC Entertainment Holdings Inc., controlled by Chinese billionaire Wang Jianlin, sweetened its offer to buy Carmike Cinemas Inc. by about 10 percent to $1.2 billion in cash and stock after some shareholders spurned an earlier bid.
Carmike shareholders will get the choice of receiving either $33.06 in cash or 1.0819 shares of AMC’s Class A common stock, Leawood, Kansas-based AMC said in a statement today. The deal also includes the assumption of Carmike’s net debt.
The companies agreed in March to a $30-a-share cash deal that would create the world’s largest cinema chain and extend Chinese influence in the movie industry. AMC said the amended merger agreement is a “best and final” offer, representing a premium of about 32 percent over Carmike’s stock price on March 3 &#8212; the last date prior to the announcement of the company’s original transaction.
AMC has been trying to acquire Carmike despite opposition from Carmike’s largest stockholders, who said the original price is too low. The company agreed earlier this month to acquire U.K. cinema chain Odeon &amp; UCI Cinemas Group for $1.2 billion, but said it was still willing to save the Carmike transaction if it could reach acceptable terms.
Carmike’s two largest shareholders &#8212; Mittleman Brothers LLC and Driehaus Capital Management LLC &#8212; oppose the deal. Together they own about 20 percent of the theater chain, according to data compiled by Bloomberg. AMC’s Chief Executive Officer Adam Aron said this week he’s unwilling to pay the $40 a share sought by some investors.
Bloomberg

AMC to buy Carmike in boosted deal valued at about $1.2b

AMC to buy Carmike in boosted deal valued at about $1.2b

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AMC to buy Carmike in boosted deal valued at about $1.2b

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