Icahn Raises Lionsgate Takeover Bid
Carl Icahn has increased his per share offer for his takeover of Lionsgate, according to THE HOLLYWOOD REPORTER. The Icahn Group increased the rate to $7.50, which was the amount offered in Icahn's first takeover campaign. The activist shareholder said the revised offer is contingent on the Supreme Court of British Columbia's ruling on the legality of Lionsgate's debt-to-equity deal with shareholder Mark Rachesky. The deal decreased Icahn's share in the company from 37.3% to 33.5%.