Tags: US | Lions | Gate | Icahn

Icahn Increases Offer for Lions Gate to $7 a Share

Friday, 16 Apr 2010 01:24 PM

Billionaire investor Carl Icahn is raising his bid for all of Lions Gate Entertainment Corp. to $7 a share from his previous bid of $6.

The company had complained that Icahn's previous offer was too low.

Lions Gate shares jumped in Thursday's after-hours trading after the company announced Icahn's bid. They rose 48 cents, or 7.5 percent, to $6.85.

Lions Gate said it would make its recommendation to shareholders promptly.

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