Today was supposed to be the deadline for Carl Icahn’s $7 per share tender offer made to Lionsgate stockholders. But stockholders were cold to the proposal: only 6.55 million shares have been tendered so far. I don’t think the 10-day extension is going to give Icahn his hostile takeover unless he ups the ante significantly. Otherwise, he’ll have to start proxy fight if he wants to continue, and that could really gets pricey. Stay tuned.
- ICAHN: New Lionsgate Numbers “A Sham”; If No 51%, Might Extend Tender Offer; “Probably” Wage Proxy Fight
- Lionsgate Taunts Carl Icahn: “We Crushed The Numbers”
- Lionsgate Claims 50% Better Earnings Than Expected
- Carl Icahn Kills Poison Pill Defense By Lionsgate
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