Icahn extends Lionsgate shares deadline

Shareholders have until Oct. 22 to tender shares to activist

TORONTO -- Lionsgate shareholders now have until Oct. 22 to possibly tender their shares to Carl Icahn.

The extension of the current $6.50 per-share offer from the activist shareholder came Wednesday.

Icahn said time was needed for the Supreme Court of British Columbia to consider his application for a court injunction to rescind a recent debt-to-equity conversion between Lionsgate and major investor and board member Mark Rachesky.

That transaction effectively reduced Icahn's stake in the Vancouver-based mini-studio, and potentially his influence, from 37.3% to 33.5%.
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