The stock of Lions Gate Entertainment Corp. (LGF) jumped 13% Tuesday after billionaire investor Carl Icahn lifted his hostile offer for the film studio by 15%, to $7.50 a share, up from the original $6.50 a share he offered in July. The new offer values the studio at about $1 billion.
Vancouver-based Lions Gate said on Tuesday that it will review Icahn’s latest proposal.
LGF gained $0.71, or 10.94%, to $7.20 rtq. at 3:19 E.T. in New York Stock Exchange trading.
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