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Lionsgate Sets $7 Per Share Price For Carl Icahn’s Stock

By DAVID LIEBERMAN, Executive Editor | Thursday October 13, 2011 @ 6:34am PDTTags: Carl Icahn, Lionsgate, Lionsgate Shares

So much for last week’s breathless reports about how this secondary offering for 19.2M of Carl Icahn’s shares was put “on hold” due to a drop in Lionsgate’s stock price. The deal with Icahn requires Lionsgate to pay him $7 a share, which should then put an end to the billionaire’s effort to control the film and TV company. Lionsgate didn’t want to have to make up the difference if it couldn’t collect that much from this offering. That doesn’t seem to be a problem now; Lionsgate closed yesterday at $7.10.

OK, so how did Icahn fare in this Hollywood drama? Not well. He probably ends up with a slight profit on his Lionsgate stock, which cost him an average of $6.90 a share. But that likely was more than eaten up by the legal bills for his applications to the Securities Commission in British Columbia, the suits he lost in the Canadian province’s Supreme Court and Appeals Court, as well as cases at the New York Supreme Court and District Court. Here’s the announcement of the offering: READ MORE »

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After Legal Setbacks, Carl Icahn Lets Lionsgate Tender Offer Expire

By MIKE FLEMING JR | Monday December 13, 2010 @ 7:58am PSTTags: Carl Icahn, Carl Icahn Lionsgate, Lionsgate, Lionsgate Shares, Lionsgate Tender Offer, Mark Rachesky
Mike Fleming

Carl C. Icahn announced today that the offer by his affiliated entities to purchase any and all of the outstanding common shares of Lions Gate Entertainment Corp. for $7.50 per share in cash has expired. The offer had been conditioned upon the New York State Supreme Court granting, by

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Lionsgate Sues Carl Icahn, Says He Was Playing A “Double Game”

By THE DEADLINE TEAM | Thursday October 28, 2010 @ 3:44pm PDTTags: Carl Icahn Lionsgate, Carl Icahn Lionsgate Lawsuit, Carl Icahn Lionsgate MGM Merger, Carl Icahn Shares, Lionsgate, Lionsgate MGM Merger, Lionsgate Shareholders, Lionsgate Shares, MGM Debt, MGM Spyglass, Movies

Lionsgate has sued its biggest shareholder Carl Icahn, claiming he publicly opposed a merger between the company and MGM then gummed up the process until he could profit substantially from a potential marriage. Lionsgate claims Icahn publicly said he would … Read More »

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Icahn Offers $7.50 Per Lionsgate Share; Annual Meeting Delayed Until After Oct. 12

By NIKKI FINKE, Editor in Chief | Tuesday August 31, 2010 @ 10:17am PDTTags: Carl Icahan Hostile Takeover, Carl Icahn, Carl Icahn Lionsgate, Carl Icahn Tender Offer, Lionsgate Annual Meeting, Lionsgate Debt-For-Equity, Lionsgate Finance, Lionsgate Hostile Takeover, Lionsgate Shares, Mark Rachesky

Every Icahn move has deep reverberations inside the film/television studio whose management is increasingly paranoid about how their actions will be viewed by him. What a destabilizing situation. Now Carl Icahn’s hostile takeover attempt intensifies with his $7.50 a … Read More »

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