Wednesday, September 13, 2006

Imax (IMAX) Jumps On Renewed Takeover Speculation

Shares of Imax Corp. (Nasdaq: IMAX) are higher today on renewed takeover talk, sparked by comments from 'CNBC Champ' Thomas Ko on MSN Money, who said he is adding the stock to his portfolio on a potential buyout.

Imax shares were punished in August after the company said there were no buyers at the valuation sought by the Board of Directors.

Ko argues that Imax was $10 then and is currently around $5, making the stock a compelling buy. Ko said, "at a modest $7 per share, I would definitely think IMAX could be a very attractive acquisition target given its monopoly position in the large format 3D projection theater system." Ko thinks Disney (NYSE: DIS) or Sony (NYSE: SNE) could be a great fit.

Shares of Imax are 10% higher to $5.24 in afternoon action Wednesday.


Post a Comment

<< Home