Carl Icahn has increased his bid for Lions Gate studio
The investor Carl Icahn has reportedly upped his bid price for the hostile takeover of the Lions Gate film studio of Vancouver. He has agreed to pay 1 billion dollars or 7.5 dollars per share to take over the film studio, earlier he offered 6.5 dollars per share for the bid in the month of July but failed to complete the deal.
Mr. Carl is the old investor of the Lions Gate and holds 19% stake in the company. He showed his interest in taking over the firm in February for the first time.
After that time the studio has seen few box office successes with its films including ‘The Last Exorcism’ and ‘The Expendables’, after that the Mr. Carl has had to increase his bid amount for the hostile bid.
Now the investors hold 30% stake of the film studio but Mr. Carl has cleared that he will hold his new offer till the 22nd of October. After the announcement of the takeover news the share price of the company went up by 12% and reached to almost 7.3 dollars per share in the New York Stock Exchange.
New Zealand News
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