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Carmike Cinemas shares jump amid speculation of a sale
Carmike Cinemas shares jump amid speculation of a sale

Shares in Carmike Cinemas, the nation's fourth largest theater chain, surged 12% follow a report the company was looking for buyers. In early afternoon trading, investors sent shares climbing as high as $34.90, a new 52-week high, after Reuters reported that Carmike hired JPMorgan Chase & Co. to evaluate options including a possible sale, Reuters reported. The Columbus, Ga.-based company, which operates 2,894 screens in 41 states, has a market value of about $838 million at current prices. In a statement, Carmike declined to confirm the report, saying its "policy is not to comment on unusual market activity or rumors." Carmike also said it had been contacted by the...

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