Imax Won’t Buy Rest Of Imax China As Shareholder Vote Fall Short

Imax said today it won’t proceed with its proposed acquisition of the outstanding stake in Imax China after a vote of shareholders of its subsidiary fell short.

Some 70% of the shares voted were in favor of the deal, but those against exceeded the 10% threshold required by Hong Kong law to defeat a privatization transaction.…

This data comes from the ChinaPulse.com media intelligence and smart news insights monitoring platform.