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Monday, March 16, 2015

National CineMedia scraps plans for Screenvision deal after U.S. lawsuit, (NMS: NCMI)

National CineMedia Inc and Screenvision LLC said on Monday that they had decided to scrap plans to merge after the U.S. government sued to block the $375 million deal. The companies said "that after a thorough review of options" that it had decided to terminate the deal, which had been reached on May 5, 2014.The Justice Department filed a lawsuit to stop it in November on antitrust grounds.The case is U.S. v. National CineMedia Inc, U.S. District Court, Southern District of New York, No. 14-08732.

National CineMedia, Inc. (NCM, Inc.) is a holding company that manages its consolidated subsidiary National CineMedia, LLC (NCM LLC). Shares of NCMI traded higher by 0.59% or $0.09/share to $15.24. In the past year, the shares have traded as low as $11.70 and as high as $17.77. On average, 297164 shares of NCMI exchange hands on a given day and today's volume is recorded at 118741.