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AMC to Buy Carmike in Boosted Deal Valued at About $1.2 Billion

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.