Lionsgate Losses Poison Pill Appeal

The British Columbia Court of Appeal rejected Lionsgate appeal to throw out a lower court ruling that tossed the studio's poison pill defense against shareholder Carl Icahn's takeover bid, according to THE HOLLYWOOD REPORTER.

The British Columbia Court of Appeal rejected Lionsgate appeal to throw out a lower court ruling that tossed the studio's poison pill defense against shareholder Carl Icahn's takeover bid, according to THE HOLLYWOOD REPORTER. Icahn has made a $7 per share bid to take control of the company and now all shareholders will be able to vote on its validity. The poison pill option would have weakened shares of anyone who optioned more than 20% of the company. Icahn controls 19%.

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