Macrovision Shares Sink On Gemstar-TV Guide Acquisition
At post time Macrovision shares were down more than 25% on news that the board had voted unanimously in favor of acquiring Gemstar-TV Guide in a cash-and-stock deal worth roughly $2.8 billion. From Forbes:
”Under the terms of the agreement, Gemstar-TV Guide shareholders will receive $6.35 in cash, or .02548 of a share of common stock in a new holding company that will include both Gemstar and Macrovision. The per share value of the transaction represents a 25.0%
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