IMAX To Explore Strategic Alternatives
MARCH 10, 2006 -- Entertainment technology company IMAX Corp., Toronto, announced yesterday that its board of directors has decided to begin a process to explore strategic alternatives to enhance shareholder value, including the possible sale or merger of the business with another entity. 'In order to fully realize the growth potential inherent in both the IMAX brand and the business we have built to date, we are evaluating strategic alternatives in order to expand our scale and maximize value for our shareholders. We have recently received several unsolicited inquiries, and believe this preliminary interest shows that there is awareness of the strength and attractive qualities of our business. We think this interest, coupled with our solid fiscal 2005 results and compelling growth opportunities, makes this an ideal time to explore our options,' said IMAX co-chairmen and co-CEOs Richard L. Gelfond and Bradley J. Wechsler. The company has retained Allen & Company and UBS Investment Bank as financial advisors in this process. "
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