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Lionsgate Loses A Battle to Icahn

In the war between shareholder Carl Icahn and Lionsgate, the studio lost a round when Canadian regulators rejected their poison pill option, reports VARIETY.

In the war between shareholder Carl Icahn and Lionsgate, the studio lost a round when Canadian regulators rejected their poison pill option, reports VARIETY. The move would have diluted Icahn's shares if he obtains a 20% stake or higher. The British Columbia Securities Commission did not give reasons for its decision.

Icahn currently controls 19% of Lionsgate and has made a $7 per share offer to take over the company. The shareholder is upset with the way Lionsgate is handling financial decisions.

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