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From Times Staff and Wire Reports
Cineplex Odeon Offering: The board of the Cineplex Odeon Corp. theater chain has approved a $119-million rights offering plan. Proceeds from the offering, which faces U.S. and Canadian regulatory approval, would be used to pay down $100 million in debt and interest. Cineplex Odeon’s stock closed at $3.875 on news of the plan, down 37.5 cents.
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