Deals
Lions Gate Deal Thwarting Icahn Buyout Bid Is Upheld
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Carl Icahn lost his bid in a Canadian court to nullify a Lions Gate Entertainment Corp. transaction that hobbled his hostile bid to buy the studio.
The British Columbia Supreme Court today rejected Icahn’s petition to undo Lions Gate’s deal to increase the number of shares held by board member and management supporter Mark Rachesky, according to a copy of the ruling provided by Lions Gate’s lawyers.