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Icahn to begin tender for Lions Gate debt

Investor Carl Icahn speaks at the Wall Street Journal Deals & Deal Makers conference, held at the New York Stock Exchange, June 27, 2007. REUTERS/Chip East

LOS ANGELES (Reuters) - Billionaire investor Carl Icahn on Thursday announced a tender offer to buy about $325 million in Lions Gate Entertainment Inc convertible notes, one day after talks aimed at getting board representation at the studio had broken off.

Icahn, who controls 14.5 percent of the company’s stock, said the offer is for all of its $150 million convertible senior subordinated notes due 2024 and for $175 million in notes due 2025.

Lions Gate was not immediately available for comment.

Lions Gate shares fell 27 cents, or 5.44 percent, to close at $4.69 on the New York Stock Exchange.

Reporting by Sue Zeidler; editing by Richard Chang

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