Icahn extends Lionsgate tender offer to Nov. 1
Timed for just after MGM creditors vote on a proposed combination with Spyglass Entertainment
TORONTO -- Carl Icahn on Friday extended his latest tender offer for shares in Lionsgate Entertainment to Nov. 1, timed for just after MGM creditors vote on a proposed combination with Spyglass Entertainment.
The billionaire investor in August resumed and raised his hostile takeover bid for Lionsgate to $7.50 a-share to get to majority control.
But Icahn, Lionsgate's largest shareholder, has since joined forces with the Vancouver-based mini-studio to take a run at the hobbled MGM studio.
Icahn's cash offer for Lionsgate will now expire at midnight, Vancouver time, on Nov. 1, unless further extended or withdrawn.