The billionaire shareholder activist isn’t buying a lot — but it’s enough to keep company watchers wondering whether he might challenge Lionsgate’s management at the September 13th investor meeting in Toronto. He bought 53,963 shares this week at about $7 a share, raising his stake slightly to 33.2%, he says in an SEC filing. The latest purchases follow the 702,877 shares he bought last week, his first purchase of the studio’s stock since July 2010. It’s unclear whether he’ll be able to cast votes with his new holdings. Lionsgate set August 5th as the record date — purchases after then typically can’t be voted. But Canadian law allows for some exceptions. Still, Icahn could offer other candidates for the board at any point up to the meeting. Icahn, who has criticized Lionsgate’s spending and strategy, nominated five board candidates last year. All lost. Lionsgate said last week that it is running the same 12-director slate that was elected last year.
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By DAVID LIEBERMAN, Executive Editor | Thursday August 18, 2011 @ 4:34pm PDTTags: Carl Icahn, Carl Icahn Shares, Icahn Lionsgate Stock, Lionsgate
By NIKKI FINKE, Editor in Chief | Monday July 26, 2010 @ 4:05pm PDTTags: Carl Icahan Hostile Takeover, Carl Icahn, Carl Icahn Canadian Petition, Carl Icahn Lionsgate Lawsuit, Carl Icahn Proxy Fight, Carl Icahn Shares, Carl Icahn Tender Offer, Icahn Lionsgate Stock, Lionsgate Annual Meeting, Lionsgate Board of Directors, Lionsgate Carl Icahn, Lionsgate Debt-For-Equity
Another nasty day in the Carl Icahn vs Lionsgate battle. This time, Icahn has made good on his threat to go to court to overturn the film/TV studio’s recent “scorched earth tactic” that diluted his stock holdings He’s referring …
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