Continuing to battle for control of Lionsgate, activist shareholder Carl Icahn on Monday issued a dour statement regarding the future of the company, predicting its share price will soon dip below the $7-per-share offer he’s making to acquire it.
“It is true that I am very concerned about the future of Lionsgate and its present path,” Icahn wrote. “I have been a shareholder for four and a half years and, during this period, the stock has declined from a high of over $12 to $4.85 several months ago.”
Icahn cited his offer as one of the key reasons why the stock has recently rebounded to finish Monday trading at $7.01 a share.
Firing right back, Lionsgate officials released their own statement, claiming the 2010 adjusted EBITDA figure of $82 million that Icahn also included in his Monday comments was wrong – the company says it was $128 million.
“Rather than subjecting our shareholders to a catalogue of all of Mr. Icahn’s misstatements this morning,” the Lionsgate missive read, “we urge them to focus on the most important issue and reject Carl Icahn’s offer of $7.00 a share, which remains financially inadequate and grows more and more inadequate with each passing day.”
