- A higher bid for Carmike Cinemas (CKEC) is expected as significant investors continue to protest over the $30 per share offer from AMC Entertainment (AMC -1.9%) that was accepted by the board. It's not a sure thing that shareholders will approve the original bid.
- Barron's notes that the deal values Carmike at 6.5X EBITDA which is below the valuation Regal Entertainment and Cinemark Holdings trades at.
- Carmike has sat just slightly above the $30 level for the last week.
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