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March 19, 2010 / 2:07 PM

Icahn moves to takeover of Lions Gate

SANTA MONICA, Calif., March 19 (UPI) -- Billionaire investor Carl Icahn said Friday he is initiating a hostile takeover of U.S. film production firm Lions Gate, offering $6 for any outstanding shares.

Last week, Lions Gate Entertainment rejected Icahn's bid to increase his stake in the company. He has already announced a tender offer to increase his holdings from 18.9 percent to 29.9 percent.

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He is now moving to take over the entire company in part to stop the firm from trying to acquire Metro-Goldwyn-Mayer Inc., The Los Angeles Times reported.

Friday is also the last day MGM is accepting bids.

Six companies made non-binding bids for MGM in January. Binding bids of around $2 billion are expected from Lions Gate, Time Warner Inc., Access Industries and others, ABC News reported.

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Carl Icahn

Austin visits Ukraine, voices U.S. support against Russian aggression

Defense News // 2 years ago

Austin visits Ukraine, voices U.S. support against Russian aggression

Oct. 19 (UPI) -- U.S. Defense Secretary Lloyd Austin said Ukraine continues to have U.S. support against Russian aggression and is free to decide its own foreign policy during a visit to Kyiv Tuesday.

Citing Russian occupation, U.S. signs new defense pact with Georgia

Defense News // 2 years ago

Citing Russian occupation, U.S. signs new defense pact with Georgia

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Defense News // 2 years ago

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Defense News // 2 years ago

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Defense News // 2 years ago

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South Korean firm to supply rapid COVID-19 test kits to U.S. military

Defense News // 2 years ago

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Defense News // 2 years ago

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Defense News // 2 years ago

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Defense News // 2 years ago

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U.S. Space Force to take over SATCOM operations from Army, Navy

Defense News // 2 years ago

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