Lionsgate Board of Directors to Review the Icahn Group's Revised Unsolicited Tender Offer

on August 31, 2010
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SANTA MONICA, Calif. and VANCOUVER, British Columbia -- Lionsgate (NYSE: LGF) (the "Company") today announced that it has received a revised unsolicited tender offer from Carl Icahn and certain of his affiliated entities (the "Icahn Group") to acquire up to all of Lionsgate's outstanding common shares for U.S.$7.50 per share in cash.

Consistent with its fiduciary duties and in consultation with its financial and legal advisors, Lionsgate's Board of Directors will review Mr. Icahn's revised offer and will make its recommendation to shareholders promptly.

The Board of Directors' recommendation will be included in an amended Solicitation/Recommendation Statement filing on a Schedule 14D-9. Lionsgate added that there is no need for shareholders to take any action at this time.

Morgan Stanley & Co. Incorporated is serving as financial advisor to Lionsgate and Heenan Blaikie LLP is serving as legal advisor. Perella Weinberg Partners LP is serving as financial advisor to the Special Committee of the Lionsgate Board of Directors and Wachtell, Lipton, Rosen & Katz is serving as U.S. legal advisor and Goodmans LLP is serving as Canadian legal advisor.

 

Tags: Carl Icahn, Lionsgate
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