Here’s Why These Five Stocks Are in Spotlight on Monday

AMC Raises Bid

In its quest to build a global cinema chain with scale and bargaining power, AMC Entertainment Holdings Inc (NYSE:AMC) has agreed to pay a little more to buy Carmike Cinemas, Inc. (NASDAQ:CKEC). Instead of the original $30 per share deal, AMC has offered offered Carmike shareholders 10.2% more instead, giving the equity owners the option of receiving $33.06 per share in cash or 1.0819 shares of AMC Class A common stock for each share of Carmike they own. The deal has a total value of around $1.2 billion and is subject to the condition that 30% of outstanding Carmike shares can be exchanged for Class A common stock and 70% be exchanged for cash. In light of the new offer, Carmike’s board of directors have unanimously approved the deal and recommend all Carmike stockholders vote ‘For’ the amended agreement. Jim Simons’ Renaissance Technologies owned more than 350,000 shares of AMC Entertainment Holdings Inc (NYSE:AMC). A total of 26 funds  from our database owned shares of Carmike Cinemas, Inc. (NASDAQ:CKEC) at the end of March.

Disclosure: none