Icahn extends date of tendering Lionsgate shares

MUMBAI: Carl Icahn has extended the date when shareholders of Lionsgate possibly tender their shares to him. The extension till 22 October of the current $6.50 per-share offer from Icahn was declared on Wednesday.

Icahn said that time was needed for the Supreme Court of British Columbia to consider his application for a court injunction to rescind a recent debt-to-equity conversion between Lionsgate and major investor and board member Mark Rachesky.

The particular transaction reduced Icahn‘s stake in the Vancouver-based mini-studio and potentially his influence from 37.3 to 33.5 per cent.