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Article: Northern expansion: Gallery to acquire Home-Vision. (Movie Gallery Inc.)
- Article from:
- Video Business
- Article date:
- June 21, 1996
- Author:
CopyrightCOPYRIGHT 1996 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Movie Gallery's long-rumored deal to buy Home-Vision Entertainment has become official, with Wall Street's blessing.
In the first three days after the definitive agreement was announced, Movie Gallery's stock price jumped $4.13, to $34.88.
The acquisition, which is expected to close this month, would be Movie Gallery's biggest in terms of corporate locations. Brunswick, Maine-based Home-Vision, which made an unsuccessful attempt to go public last fail and is believed to be one of the largest remaining privately held video rental chains, has 55 stores and operates 13 video departments in Shaw's Supermarkets.
Home-Vision's public offering would have ...