Lions Gate Buying Summit Entertainment For $412.5 Million

[Stocks-to-Watch]

Lions Gate Entertainment (LGF) is inching upwards in after hours trading, following its announcement that it is buying privately held Summit Entertainment in a cash-and-stock deal valued at $412.5 million.

The acquisition will bring a number of valuable films to Lions Gate’s library, including the critically acclaimed Hurt Locker and the popular Twilight series. Lions Gate said it expects the deal to be accretive to earnings in fiscal 2013, which begins in April.

Lions Gate hit a new 52-week high earlier this week, and is up 30% in the past twelve months.



Original Article Source by Barrons.com

[brandontips]

Looking for winning stock information?
Look no more! Click here - hottestpicks dot net