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Lions Gate to Shareholders: Reject Icahn

Letter to shareholders calls the takeover bid ”inadequate, coercive“

Lions Gate Entertainment Corp. on Monday appealed directly to shareholders to thwart a hostile takeover attempt by billionaire activist shareholder Carl Icahn that it calls "inadequate, opportunistic and coercive."
In a letter to stockholders, CEO Jon Feltheimer and Vice Chairman Michael Burns said Icahn’s offer to buy up all the shares of the company for $6 apiece was not good enough.