Monday, November 23, 2020

ICAHN ADMITS DEFEAT — FOR NOW

December 14, 2010 by · Leave a Comment 

Carl Icahn has thrown in the towel in his long fight to take control of Lions Gate Entertainment. He acknowledged on Monday that his unsuccessful effort to persuade a New York court to issue an injunction that would have the effect of blocking the company’s equity-for-debt swap with Mark Rachesky, Lions Gate’s second-largest shareholder behind […]

ICAHN SAYS RESULT OF LAWSUIT ALL-IMPORTANT IN LIONSGATE TAKEOVER

December 8, 2010 by · Leave a Comment 

Carl Icahn has conceded that in order for him to win a proxy battle next week to put five nominees of the board of Lions Gate Entertainment, he must win a lawsuit in New York in which he seeks to undo a debt-for-equity transaction by the company that increased the stake of Mark Rachesky while […]

ICAHN BOOSTS HIS BID FOR LIONS GATE

September 1, 2010 by · Leave a Comment 

Shares in Lions Gate Entertainment jumped 10 percent to $7.14 Tuesday — catapulted not so much by news that its latest movie release, The Last Exorcism, which it acquired for $1 million, had earned 20 times that amount on its opening weekend, but by word that Carl Icahn had renewed his takeover bid for the […]

ICAHN LOSES LATEST BATTLE WITH LIONS GATE

July 29, 2010 by · Leave a Comment 

Activist investor Carl Icahn’s latest legal strike at the management of Lions Gate Entertainment misfired Wednesday when the British Columbia Securities Commission rejected his request to overturn the debt-for-equity swap with his former lieutenant, Mark Rachesky, that boosted Rachesky’s stake in the company while diluting his own. Icahn has filed a similar claim with the […]

ICAHN: “I WILL SPARE NO EXPENSE” AGAINST LIONS GATE

July 27, 2010 by · Leave a Comment 

Carl Icahn stepped up his battle against the management of Lions Gate Entertainment Monday as he filed a lawsuit in Canada against the company alleging that it acted illegally in a $100-million debt-for-equity exchange that increased Mark Rachesky’s stake in the company and diluted the holdings of all other Lions Gate shareholders, including Icahn’s. Icahn […]

WELCOME TO THE LIONS’ DIN

July 22, 2010 by · Leave a Comment 

A furious Carl Icahn on Wednesday threatened new legal action against Lions Gate Entertainment after the studio converted $100 million in debt owed to Kornitzer Capital Management into 16.1 million shares, thereby valuing them at $6.20 per share. Kornitzer, in turn, sold them to Mark Rachesky, who had been Lions Gate’s leading shareholder with a […]