By Jill Goldsmith Australian theme park and movie theater operator Village Roadshow has agreed to exclusive takeover talks with BGH Capital after the private equiity firm offered to buy it for $465 million – or about $2.40 a share – it’s second offer, and a lower one, according to multiple media reports.
The company has been the target of ongoing takeover speculation and several bids. It’s stock — along with others in the sector — has become increasingly cheap as the coronavirus pandemic forced its businesses to shutter, choking off revenue.
The shares, which are publicly listed in Australia, had fallen 55% since February before COVID-19 hit. They jumped 20% Monday to $2.13.
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