Lions Gate Shareholder Rights Plan Backed By Shareholders

Lions Gate Entertainment Corp. (LGF) said Wednesday a majority of shareholders backed its shareholders rights plan in light of a $7.00 a share takeover offer by billionaire investor Carl Icahn.

PRNewswire: Of votes cast, 58,871,449 shares or 55.7% voted for the Shareholder Rights Plan, while 46,750,037 shares or 44.3% of shareholders voted against the Shareholder Rights Plan. Excluding the votes submitted by Carl Icahn and certain of his affiliated entities (the “Icahn Group”) 58,871,449 shares or 70.4% voted in favor of the Shareholder Rights Plan, while 24,772,848 shares or 29.6% of shareholders voted against. At the Special Meeting, shareholders representing 107,249,464 or 90.9% cast votes on the proposal.

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