Lionsgate Asks Shareholders To Block Icahn Bid

Law360, New York (April 12, 2010, 7:27 PM EDT) -- Lions Gate Entertainment Corp. urged its shareholders Monday to rebuff Carl Icahn's efforts to take over the movie and television studio, calling the billionaire investor's unsolicited offer "inadequate, opportunistic and coercive."

The company's board of directors, which already rejected Icahn's $6 per share takeover offer, sent a letter to shareholders Monday asking them to vote for a shareholder rights plan designed to block that offer and any similar bids.

The rights plan is meant to make sure that any proposals to take over Lionsgate treat all...
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