Lionsgate is urging its shareholders to enact a poison pill provision that would make it far more difficult for Carl Icahn's hostile takeover to succeed.
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…
Lionsgate's reportedly pulling the plug on its efforts to buy MGM, leaving only Time Warner Inc. and Access Industries as bidders for the beleagurered studio.
Domestic Film DAILY
PROVIDED BY: Box Office
No Good Deed
No Good Deed1Daily:$1.6M Cumulative:$25.9M Sony / Screen Gems -71.48%
Guardians of the Galaxy
Guardians of the Galaxy2Daily:$578,865 Cumulative:$306.6M Disney -72.21%
Dolphin Tale 2
Dolphin Tale 23Daily:$522,465 Cumulative:$16.4M Warner Brothers -87.42%
As the battle for control of Lionsgate heats up, Carl Icahn issued an "open letter" to Lionsgate co-chairman and CEO Jon Feltheimer on Wednesday morning
In rejecting Carl Icahn's hostile takeover bid, Lionsgate's toppers are making the case that the minimajor is poised for serious growth if allowed to continue on its path.
Carl Icahn's decision to launch a hostile takeover of Lionsgate has raised doubts among some financial analysts, who question whether his bid of $6 per share is sufficient.
Moody's Investors Service has warned that Carl Icahn's bid to boost his Lionsgate stake could hurt the minimajor's credit.
With Lionsgate pondering a possible binding offer for MGM this week, the mini-major's gearing up for a battle with Carl Icahn over the merits of such a deal.