ISS backs three Icahn nominees to Lions Gate board

LOS ANGELES (BestGrowthStock) – Influential investor advisory firm Institutional Shareholder Services backed three of Carl Icahn’s five nominees to the board of Lions Gate Entertainment Corp (LGF.N: ), strengthening the billionaire’s position ahead of the company’s annual meeting next week.

Icahn, with a 33 percent stake in the company, is making a hostile $7.50-a-share takeover offer for Lions Gate. Earlier this week he won the support of another big investor advisory firm, Egan-Jones Ratings Co, for all five of his board nominees.

(Reporting by Susan Zeidler; editing by John Wallace)

ISS backs three Icahn nominees to Lions Gate board