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Bernard Horn Comments on Regal Entertainment

- By Holly LaFon

U.S. movie theater operator, Regal Entertainment ( NYSE:RGC ), gained markedly on news of Cineworld Group's interest in acquiring Regal for a large premium. With this acquisition, Cineworld will become the second largest theater chain in the world, with a foothold in the U.S., Central/Eastern Europe and the U.K. The Fund began the purchase of Cineworld during the quarter, as the company presented a compelling investment opportunity, with an attractive valuation, healthy cash flows, proven business operations and history of immediately accretive acquisitions.



From the Polaris Global Value Fund fourth quarter 2017 shareholder letter.

This article first appeared on GuruFocus.


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