Lionsgate Appeals to Regulators
Lionsgate his appealing to Canadian regulators to reverse their voiding of the company’s poison pill option, which would stop shareholder Carl Icahn's hostile takeover move, reports VARIETY. Lionsgate had hoped to take the option to their shareholders on May 4th.
The move would weaken Icahn's shares if he takes control of more than 20% of the company. He currently controls 19% and has made a $7 per share offer to take over the studio.