Imax Declines Comment Regarding Sale to Sony

Toronto-based movie company Imax (NASDAQ:IMAX) declined to comment to Dow Jones on a report that Sony (NYSE:SNE) may bid $40 per share to purchase Imax.

U.K. newspaper Daily Mail reported on Friday that Imax CEO Richard Gelfond and Chairman Bradley Wechsler are pursuing a sale to Sony, and Walt Disney (NYSE:DIS) may also be interested in the purchase.

The report sent shares of Imax up by more than 14% to hit $30.78 per share.

It is unclear if a possible deal between the two companies would pass regulatory restrictions in both  the U.S. and Canada. Antitrust laws in the U.S. ban studios from owning movie exhibitors, yet with Imax standing as a Canadian-based company it’s unclear how a deal might work.