The legal battle between Cineplex and Cineworld is heating up
A Cineplex movie theatre sign looms over Yonge Street in Toronto on March 16, 2020. Analysts say they expect Cineworld to buy Cineplex on"revised terms" after the former backed out of a takeover deal.following the Canadian cinema chain’s legal action against the British group for damages after it scrapped a $2.8-billion takeover.said last week it was suing Cineworld for damages, including about $2.18 billion that Cineworld would have paid on closing of the deal.
The British company abandoned the takeover last month, citing what it termed the Canadian company’s breaches in the merger agreement.’s claim was successful, it would be limited to its costs and expenses incurred as part of the deal.all damages and losses that it has suffered as a result of’s breaches and the acquisition not proceeding,” Cineworld said in a statement.
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