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Lionsgate Poison Pill Rebuffed in Canada

Lionsgate Poison Pill Rebuffed in Canada

Lionsgate Entertainment, which is incorporated in both Vancouver and Santa Monica, is trying to fend off shareholder Carl Icahn’s efforts to take over the company. But Lionsgate has met a setback, reports the LAT and Bloomberg News:

A British Columbia regulatory body has voided the “poison pill” that the Santa Monica-based independent studio had attempted to institute…A panel of the British Columbia Securities Commission reportedly ruled that shareholders should be allowed to decide whether to take up Icahn’s offer of $7 per share.

While Lionsgate’s R-rated comic-book actioner Kick-Ass has been soft at the box office, the distrib recently acquired domestic rights to Michael Connelly crime adaptation Lincoln’s Lawyer, starring Matthew McConaughey.

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