Carl Icahn told CNBC last Thursday that he is not looking to take control of Lions Gate Entertainment but was looking to boost his stake to in turn have a larger voice at the company.
Last year, Icahn blasted Lions Gate for the acquisition of TV Guide for $255 million.
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Icahn stated, “I don’t say at all that I believe they shouldn’t take over MGM, but I think the shareholders should have the right to decide that, not the management.”
He currently holds an 18.9% stake in Lions Gate. He made an announcement last week that he plans to make a tender offer for over 13 million shares of stock at $6 each and said the offer was conditional on Lions Gate not entering any material transaction outside the ordinary course of business.
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