Icahn Extends Lionsgate Tender Offer

NEW YORK: Carl Icahn’s bid to purchase all of the outstanding common shares of Lionsgate for $7.50 per share has been extended, now expiring at midnight on December 2.

As of yesterday, November 22, 8.1 million common shares had been tendered in the offer, compared with 4.4 million as of October 28. Icahn currently owns a 32.8-percent stake in the studio, and has been trying for quite some time to takeover. Icahn upped his unsolicited offer from $6.50 per share to $7.50 per share in late August.