Icahn Not Interested in Controlling Lions Gate, Just More Say

In light of our discussion on Stock Wars last night about Carl Icahn‘s Lions Gate ($LGF) tender offer, I thought I’d share some comments from him made today on CNBC’s Fast Money:

On the Lions Gate news, shares immediately shot higher as investors placed bets that Icahn was looking to seize control of the company.

But Fast Money has learned, that’s not the case. “We are not looking to take control of Lionsgate. I want to make that clear,” he says in an exclusive interview.

Icahn told us that he just wants to have more say as the company looks to make acquisitions — MGM and Miramax are two rumored targets. “My hope is that I’ll have more to say if I have 30% of the company.”

It appears that Icahn’s wish to up his stake is based on his desire for more control over what they do strategically.  After LGF’s acquisition of the TV Guide Channel for $250 million, Icahn could be looking to make sure that he can protect his investment in the event of another expensive purchase by management.

Source:

Icahn Won’t Seize Control of Lions Gate (CNBC)