Lionsgate Advised to Take Poison Pill Against Icahn

A proxy advisory firm has recommended Lionsgate investors use the poison pill option to fend off the take-over bid of activist shareholder Carl Icahn, according to THE HOLLYWOOD REPORTER.

A proxy advisory firm has recommended Lionsgate investors use the poison pill option to fend off the take-over bid of activist shareholder Carl Icahn, according to THE HOLLYWOOD REPORTER.

The trade quotes Glass Lewis & Co. as saying, “We believe that the Rights Plan may serve to protect shareholder interests in the event that a takeover bid does not reflect the full value of the Company's shares or is coercive.”

The poison pill would make it more expensive for a shareholder with more than 20% to purchase more shares.

Lionsgate shareholders plan to meet in Toronto on May 4 to vote on the plan.

Rick DeMott's picture

___________
Rick DeMott
Animation World Network
Director of Content
Creator of Rick's Flicks Picks

randomness