Regal Entertainment Group

China-owned AMC seals deal to buy Carmike Cinemas, becomes largest theater chain in U.S.

China-owned AMC seals deal to buy Carmike Cinemas, becomes largest theater chain in U.S.

Carmike Cinemas shareholders on Tuesday approved a plan to sell the company to AMC Entertainment for $1.2 billion, including debt, making the Chinese-owned theater chain the largest in the country.

Leawood, Kan.-based AMC will pay $33.06 a share for Carmike of Columbus, Ga., meaning the combined company will surpass Regal Entertainment as the nation’s biggest cinema chain.

The shareholder vote comes eight months after AMC first proposed an acquisition of Carmike, the No. 4 circuit in North America. AMC had to boost its offer to keep the closely watched deal from falling apart after some shareholders complained that the original price of $30 a share offered in March was...

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