Icahn Extends Takeover Bid
Lionsgate's activist Carl Icahn has extended the deadline for his latest $6.50-per-share takeover big of the company, reports VARIETY. The new deadline will be Oct. 22.
The new offer has not gained Icahn any new shares in the company, which has been trading above his offer since it was first issued.
Icahn has been battling to take control of the studio, which he believes is being financially mismanaged.
Recently, Lionsgate diluted Icahn's shares in a debt-for-equity swap. Icahn, who holds 33.5% of the company, has filed suit against the studio in Canada to reverse the move.