Regal Entertainment Group (RGC) announced after the bell Thursday that its Board of Directors has decided that a sale of the company would not be in the best interest of its shareholders at this time. The Board had been conducting a review of strategic alternatives.
Regal Entertainment gapped open sharply lower Friday, but recovered some ground in the first half hour of trade, before settling into a range. Shares finished with a loss of 1.08 at $20.01 on above average volume. The stock closed testing support, trading at a week and a half low.
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