In yet another move today, it has been reported that billionaire investor Carl Icahn has extended his buyout offer to LionsGate shareholders until November 1. This move by Icahn as LionsGate’s primary shareholder places more pressure on MGM. Recall this week, the offer by Icahn to purchase outstanding debt from MGM and consolidate the two studios.
Both offers still on the table looking for shareholder and debtholder agreements extended until the end of the month. Lionsgate shares remained unchanged in early trading on today’s market.