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Reading International confirms revised takeover bid by Patton Vision

Patton Vision LLC, a holding company that claims to represent a consortium of investors, submitted a revised conditional offer to acquire all of the outstanding class A and class B common shares of Reading International Inc. for $18.50 per share in cash.

Reading's board will review the unsolicited offer, according to a Dec. 20 news release. The board previously rejected nonbinding indications of interest from Patton Vision in May 2016 and September 2016 to purchase all of Reading's outstanding stock at a per-share price of $17.