Following several bankruptcies in the movie theater industry, Imax Theater Corp., if it sees a deal at all, will likely secure only a fraction of the $40 per share originally envisioned by the Street. All seemed well for the large screen movie technology company when it announced on July 13 it would look at strategic alternatives (See M&AR, 7/24/00). Its stock moved up 15% to $26.50, and buyers seemed likely to bid for the innovative company.
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