As it continues a phased reopening, Canadian exhibitor Cineplex has started legal proceedings in the Ontario Superior Court of Justice against Regal owner Cineworld Group, "seeking damages after Cineworld wrongfully repudiated the transaction to acquire Cineplex." On June 12, the U.K.-based cinema giant had called off its planned $2.1 billion takeover of Cineplex, which would have created one of the world's largest cinema companies with more than 11,200 screens globally.
Cineplex, as a once friendly takeover attempt has hit the rocks, claimed that Cineworld "breached its contractual obligations and its duty of good faith and honesty." It is seeking damages, "including the approximately C$2.18 billion that Cineworld would have paid upon the.
Read more on hollywoodreporter.com