Perelman Raises Tender Offer for Panavision

Panavision Inc. said a board committee had approved an $8.50-a-share offer from controlling stockholder and co-Chairman Ronald Perelman for all of its publicly traded stock.

The offer by Perelman’s MacAndrews & Forbes Holdings Inc. marks an increase from $8 a share, Woodland Hills-based Panavision, a maker of movie cameras, said in a regulatory filing.

Perelman controls 97% of the company, according to Bloomberg data, and Sony Corp. owns 714,300 shares, or 1.8%. MacAndrews & Forbes initially offered $8 for each of the 1.25 million publicly held shares.