Cineworld clinches $3.6bn reverse takeover of Regal

Gladys Abbott
December 6, 2017

Amy Miles, the Regal chief executive, said the offer represented "a meaningful premium on Regal's unaffected share price" and provided "compelling value for our stockholders". As of November 15th, there was short interest totalling 34,536,188 shares, a growth of 28.8% from the October 31st total of 26,821,815 shares.

State Board of Administration of Florida Retirement System maintained its stake in shares of Regal Entertainment Group (NYSE:RGC) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission.

The UK cinema group will pay $23 a share for Regal. Royal Bank Of Canada upgraded Regal Entertainment Group from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from $19.00 to $20.00 in a research report on Thursday, October 26th. The company reported the earnings of $0.07/Share in the last quarter where the estimated EPS by analysts was $0.05/share. Regal Entertainment Group had a negative return on equity of 16.36% and a net margin of 4.41%. Analysts predict that Regal Entertainment Group will post $1.25 EPS for the current fiscal year.

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CNX Resources Corporation (NYSE:CNX) recent rally took place on significantly more volume which surged almost 4.6 million contracts on 04-Dec-17 versus its daily average of 3.94 million. The company had Year Ago Sales of 812.6 Million.

The U.S. experienced its lowest box office earnings in more than two decades, but annual takings have still managed to surpass $11 billion for the last two years. The stock's last price was higher from the average trading price of 50 days recorded at $63.95 while enlarging the period to 200 trading days, the average price was $59.89. Analysts giving shares a rating of 1 or 2 would be indicating a Buy. The ex-dividend date is Friday, December 1st. Regal Entertainment Group's payout ratio is 81.48%. Nationally recognized Johnson Fistel is investigating whether the proposed deal price represents adequate consideration, especially given one Wall Street analyst has a $24.75 price target on the stock. If you are reading this story on another publication, it was illegally stolen and republished in violation of U.S. & global trademark and copyright law.

Following completion of the deal, Cineworld and Regal will have a combined 9,542 screens across the United States and Europe making it the second largest operator in the world by number of screens.

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