Both the amended and original filing reveal that Driehaus Capital acquired the shares of the U.S. motion picture exhibitor because they were undervalued. Precisely, Mr. Driehaus' investment firm believes that shareholder value "can be unlocked by exercising their voting rights with respect" to the pending merger transaction with the second-largest U.S. theater chain AMC Entertainment Holdings Inc. (NYSE: AMC ), which is controlled by Chinese private conglomerate Dalian Wanda Group. In early March, AMC agreed to acquire Carmike Cinemas for $30.00 per share in cash, but Driehaus Capital believes that this offer "meaningfully undervalues" the fourth-largest U.S. exhibitor. Nonetheless, Mr. Driehaus and his team acknowledge that the possible merger between the two companies represents "a unique opportunity for AMC to gain substantial scale", but a more realistic purchase offer would be in the range of $43.50 to $47.25 per share.