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Icahn Extends Lionsgate Tender Offer Until Nov. 22

Billionaire investor continues months-long efforts to expand stake in the studio

With the deadline looming, Carl Icahn has extended his tender offer for shares of Lionsgate by 10 days.

The new expiration date on his $7.50 per share bid is Nov. 22 at 1:59 p.m., Vancouver time.

The billionaire investor has been engaged in a lengthy proxy war with Lionsgate for much of the past year. He has accumulated some 6.5 million shares so far, which will pad the 33.5 percent stake Icahn has in the studio.

Lionsgate's management has routinely pressured its stockholders to reject Icahn's overtures.  The studio has also reduced Icahn's stake through a debt-to-equity transaction last summer that lowered his share in the company from 38 percent.