RPT-UPDATE 1-Lions Gate shares climb after Icahn expands stake

(Repeats to widen distribution)

* Icahn now has nearly 34 pct

* Tender offer period ended Wednesday

* Shares climb 3 pct in weak market

LOS ANGELES, July 1 (BestGrowthStock) – Carl Icahn has increased
his stake in Lions Gate Entertainment Corp (LGF.N: ) to 33.9
percent, as the billionaire activist shareholder pursues his
hostile takeover of the independent Hollywood studio.

Lions Gate shares were up 3 percent at $7.19 in late
morning trading, while the broader market slid about 1
percent.

Icahn, who criticizes the studio behind such hits as “Saw”
and “Mad Men” for poor cost controls and management, said on
Thursday that he and his affiliates now own more than 40
million shares. He became the studio’s single-largest
shareholder last month.

The investor’s standing tender offer of $7 a share — which
Lions Gate insists is too low — ended on Wednesday and he has
said it would not be extended. [ID:nN28261486]

A source with knowledge of the situation has said Lions
Gate, seeking other options, has talked with
Metro-Goldwyn-Mayer [MGMYR.UL] about a possible merger, but
that no concrete offer has been made. [ID:nN25188936]
(Reporting by Edwin Chan, editing by Maureen Bavdek)

RPT-UPDATE 1-Lions Gate shares climb after Icahn expands stake