Carl Icahn Attempts Hostile Take Over Of LGF

Icahn claims that Lions Gate (LGF) may have to declare a bankruptcy.

If Icahn increases his ownership stake beyond 20% then the film studio may have to file for bankruptcy. the 20% would trigger a technical default on the $340 million outstanding loan.

Icahn currently controls 19% and has stated that bankruptcy was a real possibility if Lions Gate can not find additional funding.

stock prices dropped by 0.03% to 6.97

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Posted by John Clement on Jun 13 2010. Filed under Featured News, Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry