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In this Dec. 17, 2014 file photo, a patron walks into a Carmike Cinemas movie theatre, in Atlanta. AMC Entertainment, the movie theatre chain bought by Chinese conglomerate Dalian Wanda Group in 2012, is acquiring rival chain Carmike Cinemas for $1.1-billion including debt. (David Goldman/AP)
In this Dec. 17, 2014 file photo, a patron walks into a Carmike Cinemas movie theatre, in Atlanta. AMC Entertainment, the movie theatre chain bought by Chinese conglomerate Dalian Wanda Group in 2012, is acquiring rival chain Carmike Cinemas for $1.1-billion including debt. (David Goldman/AP)

AMC Entertainment to buy Carmike in a deal valued at $1.1-billion Add to ...

AMC Entertainment Holdings will acquire Carmike Cinemas Inc in a deal valued at about $1.1-billion, including debt, making the combined company the largest U.S. theatre chain.

AMC will pay $30 per share in cash to buy all of Carmike’s outstanding shares, which represents a premium of about 19.5 per cent to Carmike’s Thursday’s close.

Chinese property and investment firm Dalian Wanda Group had acquired AMC Entertainment for $2.6-billion in 2012.

The transaction will be funded through a combination of existing liquidity, including cash on hand, and incremental debt. The debt financing commitment is being provided by Citigroup Global Markets Inc.

Dalian Wanda Group also agreed to acquire a majority stake in Legendary Entertainment earlier this year, valuing the U.S. movie studio company at between $3-billion and $4-billion.

AMC, the second-largest movie theatre chain in North America, currently has 387 locations and 5,426 screens while Carmike has 276 theatres with 2,954 screens in 41 states.

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