It looks like Carl Icahn won’t get his Lionsgate board seats, after all—at least not right now.
The corporate raider just released the following statement, announcing that he’s no longer negotiating with Lionsgate to get the board seats he wanted.
“We have recently been engaged in discussions with Lions Gate regarding the possibility of having a number of our designees added to Lions Gate’s board of directors. Those discussions have been terminated because agreement could not be reached concerning certain aspects of the standstill agreement that Lions Gate demanded as a condition to installing those board members.”
So it seems like Icahn didn’t like that Lionsgate didn’t want him negotiating another deal while the two sides were discussing board seats. Interesting. Does this mean Icahn was making a move on MGM? Or someone else?
And what does this mean for the future of Icahn’s dealings with Lionsgate? Will he keep buying shares?
Business Insider Emails & Alerts
Site highlights each day to your inbox.