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Lionsgate Board Urges Shareholders to Reject Icahn Offer … Again

Missive comes after $7-share-bid was voted down earlier in the week

In case they didn’t hear the board the first dozen or so times …

The Lionsgate board of directors issued yet another missive to shareholders Friday, urging them to continue to reject corporate raider Carl Icahn’s latest takeover offer.

Earlier in the week, shareholders voted against an offer of $7 per share.

The company release states that the "offer remains financially inadequate, coercive and not in the best interests of Lionsgate, its shareholders or other stakeholders."

With the board retaining enough control over key shareholders to keep this dance going for a while, Icahn last week said he was prepared to instigate a proxy fight.