Lionsgate Poison Pill Rebuffed in Canada

by Anne Thompson
April 27, 2010 11:16 AM
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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.