Why Regal Entertainment Group Shares Rose 24% in November
Shares of Regal Entertainment (NYSE: RGC) gained 23.6% in November 2017, according to data from S&P Global Market Intelligence. The gains were sparked by a early talks of a buyout deal.
Near the end of November, the movie theater chain started to hammer out a takeover deal with British peer Cineworld. Mere rumors of this potential deal were enough to drive Regal's share prices 10% higher, with another 6% boost when the company confirmed the hearsay. Cineworld presented a $5.9 billion buyout offer in early December, triggering a final 9.2% jump in Regal's market value.
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Source: Fool.com
