The book appears to be closed on the privatization of Imagine Films Entertainment Inc.
The film production company said co-founders Ron Howard and Brian Grazer have purchased 94% of Imagine Films’ 5,655,756 shares through a tender offer by IFE Acquisition Co. that expired Tuesday.
In a press release, Imagine Films said IFE paid $ 9 a share for 2,211,569 shares tendered by physical delivery and 29,212 shares tendered by notice of guaranteed delivery.
Imagine Films said that under a previously announced merger agreement, IFE will merge into Imagine Films, with Imagine Films as the surviving company. In the merger, all remaining shares will be converted into the right to receive $ 9 in cash.