Lionsgate Scrambles To Repel Icahn Takeover

Law360, New York (April 29, 2010, 2:13 PM EDT) -- Lions Gate Entertainment Corp. has appealed the decision by Canadian securities regulators to put the kibosh on the company’s poison pill against activist investor Carl Icahn’s hostile takeover bid.

On Wednesday, the embattled television and film studio appealed the British Columbia Securities Commission’s cease-trading order that prohibits Lionsgate shareholders from acting on the company’s plan to thwart Icahn’s $7 buyout offer and prevent him from gaining enough stake in the company to exert his will.

With the British Columbia Court of Appeal slated to hear the...
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