Lionsgate Shareholders Reject Latest Icahn Offer

Law360, New York (June 1, 2010, 4:51 PM EDT) -- Shareholders of Lions Gate Entertainment Corp. have again rejected a tender offer from billionaire investor Carl Icahn, who on Tuesday redoubled his efforts to grab the company by extending his $7 per share tender offer and removing a condition that set a baseline for the number of shares he's willing to purchase.

The embattled television and film studio said Tuesday that shareholders had shot down the unsolicited bid and that less than 4 percent had tendered into the offer.

“Lionsgate’s shareholders have demonstrated that they believe...
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