BUZZ-SPAC Screaming Eagle rises on $4.6 bln Lionsgate studio merger
Reuters · 12/22/2023 14:06
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** Blank check firm Screaming Eagle SCRM.O rises 1.9% to $10.76 premarket
** SCRM to merge with studio business of entertainment company Lionsgate LGFa.N
** Deal valued at about $4.6 bln, expected to deliver around $350 mln in gross proceeds to Lionsgate; expected to close in spring 2024
** SCRM has a market cap of $990 mln as of Thursday - LSEG data
** Lionsgate is down 1.5% premarket
** LGFa is up 95.8% YTD, while SCRM is up 6.24% YTD as of last close
(Reporting by Pranav Kashyap in Bengaluru)
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