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Lionsgate receives tender offer from Carl Icahn

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Lionsgate has confirmed that financier Carl Icahn has made an unsolicited offer to acquire over 13 million common shares of the company, a move that would make him the largest shareholder. Icahn has offered to pay $6 per share, which exceeds Lionsgate’s closing price by 14 percent.

In response, Lionsgate has issued a press release stating it will “review Mr. Icahn’s proposal and will make its recommendations to shareholders promptly. Lionsgate noted that there is no need for shareholders to take any action at this time.”