** Cineworld shares reverse course to trade up 3% after the British cinema operator said it will buy Toronto-based Cineplex for $1.65 bln in cash
** Co to become the biggest cinema operator in North America with this deal
** Cineworld says Cineplex shareholders will receive C$34 ($25.56) per share in cash; Deal represents a premium of 42% to stock’s Friday close
** Shares of Cineplex surge 41.2% to C$33.90
** Brokerage Canaccord says industry is consolidating and Cineworld is determined to be predator rather than prey
** Cineworld shares hit their lowest since June 2015 earlier in the day
** Up to Friday’s close, CINE stock down ~17% YTD, while CGX down 5.6% (Reporting by Samantha Machado and Arundhati Sarkar in Bengaluru)
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