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.
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.
posted by Lon at 1:39 PM
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