Icahn Extends Tender Offer for Lions Gate Common Shares to Nov. 1

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.

Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!

Be the first to comment

Leave a Reply

Your email address will not be published.


This site uses Akismet to reduce spam. Learn how your comment data is processed.