His $7.50-per-share offer had been set to expire Monday but has been extended to December 2. Icahn is the biggest shareholder in Lionsgate, at 33%. The offer expires on the same day that MGM is supposed to receive confirmation of its bankruptcy plan – Icahn owns 18% of MGM’s debt. Icahn has repeatedly criticized Lionsgate for costs and said he plans to launch a fight for control of the company’s board. Lionsgate’s annual meeting is set for Dec. 14.
Carl Icahn Extending Lionsgate Offer
By THE DEADLINE TEAM | Tuesday November 23, 2010 @ 8:42am PSTTags: Carl Icahn, Carl Icahn Lionsgate Share Offer, Carl Icahn MGM Debt, Carl Icahn Shares, Carl Icahn Tender Offer, Lionsgate, Lionsgate Carl Icahn, Lionsgate Finance, MGM Debt
This article was printed from http://www.deadline.com/2010/11/carl-icahn-extending-lionsgate-offer/
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If the Lion’s Gate merger happens the first thing they need to do is get that Paul Pressburger out of there. The guy is inneffectual and doesn’t know what he’s doing… A complete roadblock to their int’l ambitions at a time when it’s the most important part of the business.
I’d have to agree. Have you ever had to deal with Paul’s asst.?… The one Paul is trying to promote?… Even more laughable. It’s like one big comedy of errors over there.
I agree that Paul will probably be gone in the event of a merger, and it will give them the chance to completely rework their int’l strategy under capable people.
Icahn’s persistant battle for Lionsgate is quite amusing. I picture him at his desk fretting over the minute details of his
financial offering. He should be fretting over what is motivating him to buy this company. Unless he cleans house completely his dollars are being pissed down the drain. I wonder if he was able to see the dailies of the Russell Crowe movie. If he saw the first two weeks why did’t he force them to shut the movie down. Or at least make a public statement that this turkey should never have been made. Who is the right person to lead this company? Can Ichan play nice with women? The young lady who just exited MGM I hope is in the running to step in and reboot this lion. She didnt have the opportunity with the MGM one.
How does this even qualify as news anymore? Can’t we just assume Icahn will continue extending (or sweetening) the offer, and just issue a story when he finally decides to cancel?