Imax Shares Pop on Takeover Rumor
NEW YORK (TheStreet) -- Imax (IMAX) - Get Report shares were in the spotlight on New Year's Eve after London newspaper reported that the company might be a buyout target.
A column published late Thursday in London's
Daily Mail
said "whispers" indicated that
Sony
(SNE) - Get Report
might be
preparing to offer more $40 a share
for the chain of giant movie theaters.
Without citing sources, the paper also said that
Disney
(DIS) - Get Report
might be interested in buying Imax.
In afternoon trading, Imax shares were up 5% to $28.25, having cooled off since the early going, when the stock went as high as $32.30, a new 52-week high.
The same
Daily Mail
column also
this week when it reported that
BHP Billiton
(BHP) - Get Report
might be looking to buy oil-and-gas explorer
Anadarko
(APC) - Get Report
.
-- Written by Scott Eden in New York
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