Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
AMC Entertainment Holdings, Inc. was previously reported to be interested in acquiring the bankrupt Cineworld’s cinemas. However, in the latest update, it was said that the company is now halting its plans to buy the said properties.
As per Reuters, AMC Entertainment withdrew from the talks related to the acquisition of the Cineworld theaters. The collapse of the negotiations was said to have sent Cineworld’s shares spiraling down by five percent on Wednesday afternoon.
The failed talks were revealed through the regulatory filings. It was stated in the documents that the movie theater chain headquartered in Missouri is no longer in talks to buy some cinemas owned by the Cineworld Group.
Previously, AMC said that it is eyeing the purchase of several theaters in Europe and the United States. In the initial plan, the deal would be partly financed through the issuance of its preferred stock and debt financing that will be provided by lenders.
During the talks, AMC Entertainment revealed that Cineworld did not present any confidential information, compilations, analysis, forecasts, or any other pertinent documents to the lenders. The company further said that they were not able to reach a definitive deal related to any proposal to the debtors in the Cineworld bankruptcy case thus there is no assurance that it will go back t the negotiating table for a deal.
“A definitive agreement with the lenders has not been reached regarding the terms of any proposal to be presented to the debtors in the Cineworld cases, and at this time negotiations are not continuing,” Independent quoted AMC as saying in the SEC filing.
The company added in a cautionary statement, “While AMC reserves the right to continue to explore the acquisition of value-enhancing strategic assets, there can be no assurance that AMC will resume any discussions with the lenders or if it were to do so, that it would be able to agree with lenders or any other party as to the terms of a mutually acceptable proposal.”
Photo by: Donreál Lunkin/Unsplash
