Tags: Imax Gains After Daily Mail Reports Sony May Offer to Buy It

Imax Gains After Daily Mail Reports Sony May Offer to Buy It

Friday, 31 Dec 2010 10:08 AM

Shares of IMAX Corp. jumped Friday on speculation that Sony Corp. was considering a bid for the Canadian theater-systems operator.

The Daily Mail reported that Sony was considering making an offer of $40 per share for the company. The British newspaper said that The Walt Disney Co. has also expressed interest in bidding for IMAX, which is known for its jumbo screens.

Shares added $1.51, or 5.6 percent, at $28.37 in afternoon trading, and rose as much as 20 percent at one point.

IMAX said that it won't comment on rumors about acquisition offer, and it is not aware of "any corporate developments" that would account for the stock movement.

A call to Sony and an e-mail to Disney's media representatives were not answered.

IMAX, based in Mississauga, Canada, operates about 430 theater systems that have become popular outlets for a new generation of 3-D movies.

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Shares of IMAX Corp. jumped Friday on speculation that Sony Corp. was considering a bid for the Canadian theater-systems operator. The Daily Mail reported that Sony was considering making an offer of $40 per share for the company. The British newspaper said that The Walt...
Imax Gains After Daily Mail Reports Sony May Offer to Buy It
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