LIONS GATE FIRES BACK AT ICAHN

The ongoing trench warfare between activist investor Carl Icahn and Lions Gate Entertainment continued unabated on Monday as the independent studio once again rejected an offer from Icahn to buy the company for $6.50 per share and urged shareholders not to tender their shares to him. (Apparently believing that Icahn will yet again raise his offer, Lions Gate investors pushed up the price of the company’s stock to $6.72.) The board rejected Icahn’s offer as “financially inadequate” and “opportunistic.”