NewsAlert: Cineworld says $2.8-billion takeover of Cineplex if off
Cineworld PLC says it has terminated its $2.8-billion takeover of Canadian movie exhibitor Cineplex Inc. after "certain breaches" of the acquisition deal. People leave a Cineplex theatre in Toronto on Friday, November 4, 2016. THE CANADIAN PRESS/Nathan Denette
TORONTO — Cineworld PLC says it has terminated its $2.8-billion takeover of Canadian movie exhibitor Cineplex Inc. after “certain breaches” of the acquisition deal.
The U.K. cinema operator did not outline the specifics of what parts of the transaction it believes Cineplex ran afoul of, but the London-based company noted that Cineplex has denied any such breaches.
A representative for Cineplex could not be immediately reached for comment.
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The Canadian Press
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