Imax Stock Surges on Hollywood Takeover Talk
Imax's stock surged nearly 11 percent amid speculation of a potential takeover. The company is reportedly in the early stages of fielding possible buyers as Hollywood studios focus on premium large format experiences. Despite the speculation, Imax executives have not confirmed any plans for a sale.
- ▪Imax shares rose $3.62 to $37.50 after reports of a possible takeover.
- ▪The sales process for Imax is still in its early stages and may not lead to a transaction.
- ▪Imax captured nearly 20 percent of opening weekend grosses for major titles despite only having 1 percent of North American screens.
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The Imax poster for blockbuster 'Avatar: Fire and Ash,' which has grossed $1.47 billion so far. Everett Share on Facebook Share on X Google Preferred Share to Flipboard Show additional share options Share on LinkedIn Share on Pinterest Share on Reddit Share on Tumblr Share on Whats App Send an Email Print the Article Post a Comment Imax isn’t talking about speculation over a possible takeover after stock in the film technologies company spiked in after-hour market trading on Thursday. Shares in Imax rose $3.62, or nearly 11 percent, to $37.50 after The Wall Street Journal report the company was in the early stages of fielding possible buyers for the company as premium large format (PLF) screens like its own transform the multiplex experience.
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