ActUpon

Film News: Billionaire hoped to up stake to as much as 30% — Lions Gate Entertainment on Friday rejected an offer from activist shareholder Carl Icahn to boost his stake in the movie studio by buying up to 13.2 million shares.

Film News: Billionaire hoped to up stake to as much as 30% — Setting the stage for a prolonged fight, Lionsgate’s board has strongly urged its shareholders to reject Carl Icahn’s bid to boost his stake as being too low and coercive.