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:

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