Regal Entertainment isn’t celebrating Oscar season with a sale. The movie theater chain felt that bidding prices in its auction effort weren’t ripe enough to command a buyout. So the theater operator pulled out of the auction process. The company has an enterprise value of more than $5 billion. But its current trading price suggests a value of just over half that. Now the theater operator could turn its attention to prospective acquisition opportunities. Its majority owner, the activist Anschutz Company, has been agitating for a sale, but that seems to be out of the questions at this juncture.
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