AMC to acquire Carmike for $1.2B

• AMC Entertainment (NYSE:AMC) has agreed to buy Carmike Cinemas (NASDAQ:CKEC) in a cash and stock deal valued at $1.2B.
• Under terms of the transaction, for each outstanding share of CKEC common stock, Carmike’s stakeholders will have the option to receive either $33.06 in cash or 1.0819 shares of AMC's Class A common stock.
• The transaction is expected to produce annual cost synergies of approximately $35M.