Wednesday, September 22, 2021

LIONS GATE BOARD AGAIN BLOCKS ICAHN TAKEOVER

May 11, 2010 by · Leave a Comment 

As expected, shareholders in Lions Gate Entertainment on Monday rejected the $7.00-per-share offer that activist shareholder Carl Icahn submitted most recently to buy all of the studio. In a prepared statement that virtually duplicated its remarks after it turned down Icahn’s earlier offer of $6.00 per share, the company said that the shareholders believe his “offer is inadequate and does not reflect the value of their investment.” Lions Gate’s stock closed Monday at $6.89, just a few cents shy of Icahn’s offer.