..and so the battle between Lionsgate and Carl Icahn rages on.
Evidently undeterred by the studio’s attempt to shut him out yesterday, Icahn has extended his offer to purchase Lionsgate’s debt, which expired yesterday, until the end of day on May 1—unless he decides to extend it further.
He also revealed that he has so far received $149,000 of the debt due to expire in 2024 and $8.7 million of the notes due to expire in 2025. Considering that he wanted $150 million of 2024 debt and $175 million of 2025 debt, Icahn’s gotten less than one hundredth of the 2024 notes and roughly five per cent of the 2025 notes, incidentally the ones Lionsgate’s trying to block him from buying.
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