Icahn buys more than 1 million shares of Lions Gate for 10.56% stake

By Lisa Kerner

Charlotte, N.C., Feb. 10 - Carl C. Icahn and his affiliates including High River LP, Hopper Investments LLC, Icahn Partners LP and Icahn Enterprises Holdings LP confirmed their acquisition of beneficial ownership and control of 1,036,136 additional common shares, or 0.89%, of Lions Gate Entertainment Corp.

According to Icahn, the shares were purchased on the New York Stock Exchange at a price of $4.532 per common share.

Icahn has filed an early warning report with the Canadian securities regulatory authorities confirming the acquisition.

With the acquisition, Icahn beneficially owns 12,235,723 common shares, or 10.56%, of Lions Gate.

Icahn believes the common shares of Lions Gate are undervalued. The investor's representatives have had discussions with Lions Gate and may continue to have discussions with the Santa Monica, Calif., entertainment studio, an Icahn news release said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.