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Icahn To Offload Lionsgate Stake

Billionaire Carl Icahn is selling his holding in entertainment company Lionsgate.

Billionaire Carl Icahn is selling his holding in entertainment company Lionsgate. Icahn will offload his stake for approximately $7 a share to studio director Mark Rachesky and a party that the studio will designate over the next 35 days.

Post-deal, Rachesky will own more than 51 million shares of Lionsgate or roughly 37% of the company. Icahn will retain a small stake in the company, of approximately one million shares. Perella Weinberg Partners was the outside financial adviser in the transaction.

Click here for the release from Lionsgate.

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