Q Black Media to buy Image
Times Wire Reports
Shares of Image Entertainment Inc. more than doubled after the DVD distributor said it agreed to be acquired for $100 million by closely held Q Black Media.
Stockholders would receive $2.75 a share in cash, four times the closing price of 69 cents on Thursday, Image said. The transaction would include assumption of Image’s debt and is expected to close in the first quarter, the Chatsworth company said.
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