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.

 

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Source: THR

Jonathan Liebesman will take over for Louis Leterrier on Clash of the Titans 2. The sequel will be shot in 3D from the beginning instead of being converted. Cast members Sam Worthington and Gemma Arterton will be returning.

Despite receiving a wave of bad publicity because of a weak 2D-to-3D conversion, Clash of the Titans was able to rake in more than $490 million worldwide.

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Source: THR

Ryan Reynolds and Bradley Cooper will play San Francisco cops in an untitled action/comedy from writer Sheldon Turner (Up in the Air). The film follows two cops who are forced to look to their fathers for help with a difficult case.

Reynolds will be seen this fall in Buried from Lionsgate. As for Cooper, he has The Dark Fields set to open in January 2011.

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Source: Deadline.com

The Nutcracker in 3D will be released domestically by Freestyle Releasing and Cinemarket Films on November 24. The film stars Elle Fanning, Nathan Lane and John Turturro, and it also features new songs by Tim Rice. 

Fanning is building quite a career for herself. She'll also be seen this fall opposite Stephen Dorff in Sophia Coppola's Somewhere.

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