After a 10-day ceasefire in their on-going battle for control of the company, shareholder Carl Icahn has launched another tender offer bid to take over Lionsgate, according to THE HOLLYWOOD REPORTER.
After a 10-day ceasefire in their on-going battle for control of the company, shareholder Carl Icahn has launched another tender offer bid to take over Lionsgate, according to THE HOLLYWOOD REPORTER. Now Icahn is only offering $6.50 per share versus his previous offer of $7. During his last bid, he gained control of almost 38% of the shares. The new offer expires on Aug. 25.
The Icahn Group is willing to back off if any merger and acquisitions deals over $100 million begin. Lionsgate has been in early talks to acquire MGM and Miramax.
Icahn believes the senior execs are financially mismanaging the company.
On news of Icahn's offer, Lionsgate stock jumped up 7% to $6.45.
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