Here we go again! (See video below) Just now, on CNBC, Carl Icahn responded to Lionsgate Vice Chairman Michael Burns on-air boasts that studio management “crushed the numbers” and its current model is working. “The information Lionsgate is giving us is a sham,” Icahn declared. But the most interesting insight from the corporate raider/shareholder activist was his prediction about what will happen if he can’t get 51% of shareholders to accept his $7 per share tender offer by tomorrow’s expiration date:
“We’ll see if we get 51%. As far as I’m concerned, if we don’t get it, we don’t get it. That’s life. And we would probably have a proxy fight. But as far as I’m concerned, there are many avenues to achieve where you want to go. We’ve taken over many companies in different ways. And it wasn’t always that we had to do a tender offer. And if we don’t get the requisite amount on Friday, we’ll decide if we’ll extend… Let me repeat, if we don’t get the 51%, we might extend — we would consider doing that — or we might just consider other avenues.”
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