UPDATE: Lionsgate doesn’t release its earnings until later today, but the company eyes the extension of Carl Icahn’s $7 per share tender offer as a victory, as Lionsgate claims that less than 4% of shareholders tendered into the offer that was due to expire today.
The company issued this statement: “Lionsgate’s shareholders have demonstrated that they believe the Icahn Group’s offer is financially inadequate. Lionsgate appreciates the continued support of its shareholders and notes that, while there is no need for shareholders to take action at this time, those shareholders who have tendered into the offer can still withdraw the shares.”
Lionsgate will release earnings late today and hold an analyst and investor conference call tomorrow at 9 AM East Coast time.
EARLIER: In the latest saga in Carl Icahn vs. Lionsgate, Icahn has extended to June 16 his tender offer of $7 for outstanding shares of the indie company. Icahn’s tender offer expired today, and he didn’t get very far in his hostile takeover quest. The move comes as Lionsgate prepares to unveil its earning later today, after the market closes.