Lionsgate battle: An uncivil war

Icahn, Lionsgate trade barbs in takeover battle

When Carl Icahn bumped up his investment in Lionsgate to 9% in October 2008, Lionsgate spokesman Peter Wilkes told a reporter, “We welcome his input, which is always very perceptive. He has a great track record for recognizing undervalued investments.”

It remained fairly cordial in 2009. Icahn tried to persuade Lionsgate to put his son Brett Icahn on the board, leading to Lionsgate politely spurning him by saying, “The board ultimately concluded that it could not meet his requests and continue to serve the best interests of all of our shareholders, which is our No. 1 priority.”

But with Icahn launching a hostile takeover bid for Lionsgate, which it rejected last week, the civility has evaporated:

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Film News from Variety