Lions Gate Entertainment Corp. and Carl Icahn have held talks about awarding him board seats and ending his hostile takeover bid for the independent film studio, two people with the knowledge of the matter said.
Discussions have taken place in the past two weeks, said the people, who declined to be identified because the discussions are private. Canadian regulators voided the Vancouver-based company’s “poison pill” on April 28, giving more leverage to Icahn, who had sought board seats in the past.
An agreement to withdraw the $7 a share offer would end a three-month battle that started after Icahn had been pushing in corporate filings for board seats. Icahn is seeking terms that are similar to those outlined in his February tender offer, in which he asked for three seats, said one of the people.
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