Billionaire investor Carl Icahn amped up hostilities with the Lionsgate board Tuesday, disclosing plans for a proxy fight to replace the existing 12-member board with his own slate of directors.
In an escalation of hostilities, Carl Icahn's announced plans for a proxy fight to take over Lionsgate.
Carl Icahn's making no progress in his hostile takeover attempt of Lionsgate, with a 37% decline in the number of shareholders supporting his bid over the past two weeks.
Lionsgate and Carl Icahn are in possible settlement discussions to resolve the long-running battle for control of the minimajor.
Lionsgate has scored a victory in its ongoing battle with Carl Icahn.
Carl Icahn has extended his takeover offer for Lionsgate for a second time, pushing the deadline back until May 21 after receiving only a mild response from shareholders.
Lionsgate's received a four-day delay in its appeal of a ruling by Canadian regulators tossing out its "poison pill" to block Carl Icahn's hostile takeover bid with the hearing pushed back to Friday.
Carl Icahn's extending his hostile takeover offer of Lionsgate for another 10 days after receiving about 5.5% of the shares.
Lionsgate has picked U.S. distribution rights to Katherine Heigl crime-thriller "One for the Money," from Lakeshore Entertainment and Sidney Kimmel Entertainment.
Lionsgate, pressured by Carl Icahn's hostile takeover bid, has announced that preliminary results for its fiscal year ended March 31 are 50% better than it forecast two months ago.
Lionsgate will include Carl Ichan as a voter in its upcoming shareholder vote on a poison pill that's designed to make it more difficult for Icahn to complete a hostile takeover of the minimajor.