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Carl Icahn again extended his tender offer for Lions Gate and eliminated his majority-control condition. The film and TV studio reiterated its rejection.
One week after Lions Gate Entertainment rejected his holdings in the studio, investor Carl Icahn is launching a hostile takeover bid for the entire company.
Lions Gate urged shareholders to reject a recent tender offer from investor Carl Icahn, calling the bid for the film studio's shares inadequate and coercive.
The dance between Carl Icahn and Lionsgate continued Tuesday as reports surfaced that the studio hired a law firm to defend itself against what could turn into a proxy battle or hostile takeover.