Billionaire investor Carl Icahn, who is pushing a merger between Lions Gate Entertainment Corp (LGF) and the heavily indebted film studio MGM, has extended his $7.50 per share tender offer for the acquisition of all outstanding Lions Gate shares until November 1, 2010.
Icahn, who says he has a significant position in MGM, has been trying to buy Lions Gate for more than a year. In August he raised his bid to $7.50 per share for Lions Gate after the Vancouver, BC – based company rejected an earlier $6.50 per share offer.
Icahn’s original offer was set to expire on Friday.
At last check, LGF shares were flat at $7.42.