Shareholders of Imax’s Hong Kong-Listed China Unit Reject Buy-Out Bid

What’s new: The proposal by Imax Corp., the U.S.-Canadian big-screen cinema operator, to buy out its Hong Kong-listed subsidiary overseeing its China business has been voted down by the latter’s shareholders.

The buyout bid failed despite the fact that 70% of the votes cast during a Tuesday court meeting were in favor of the deal while about 18% were against it, Imax China Holding Inc. said in a stock exchange filing the same day.