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AMC Stock Slides, Ups Offer in Carmike Deal to $1.2 Billion

NEW YORK (TheStreet) -- Shares of AMC Entertainment (AMC) are down 2.71% to $29.77 this morning after the company agreed to a deal to acquire Carmike Cinemas (CKEC) valued at $1.2 billion, MarketWatch reports.

The deal, first proposed in March, would make AMC the largest movie-theater operator in the U.S.

A vote to approve the deal was postponed twice by Carmike shareholders over concerns that the sale price was too low.

The new transaction is about 10% higher than AMC's original $30-per share all-cash offer. AMC's offer is now valued...


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