Movies

Icahn Lionsgate truce ends!

MUMBAI: Though the temporary truce between Carl Icahn and Lionsgate lapsed yesterday, they were in the mood for further compromise. There was no public word from either party on their next moves. But it seems that the current ceasefire would either be extended till Tuesday without comment.


The temporary truce could also provide a prelude to a final settlement between Icahn and Lionsgate, to include board representation and seats, including one for his son, Brett Icahn, and possibly Mark Cuban who earlier tendered a 5 per cent stake in Lionsgate to Carl Icahn.


Icahn, who agreed to back off on his hostile bid for control of Vancouver-based Lionsgate ten days ago to jointly work on M&A deals, could renew hostilities by launching a new tender offer and by putting up a slate of directors for a proxy fight at the studio?s upcoming shareholder meeting.


Icahn, who has nearly 38 per cent stake in Lionsgate since 9 July has lent an ear to senior management?s case for possible acquisitions including a run at an ailing MGM now being auctioned off.

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