Carl Icahn is Having a Rough Week... (MENT, LGF)
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Lions Gate Entertainment (NYSE: LGF) shares popped midday Wednesday following reports a New York Judge tossed out a lawsuit filed by activist investor Carl Icahn over a proposed equity-for-debt swap.
The stock last traded at $6.25, up 0.6 percent from Tuesday's closing price.
The ruling follows a decision by a U.S. District judge last week that Icahn failing to disclose plans related to a possible Lions Gate-MGM merger was not a violation of securities law.
Elsewhere on the Icahn front, the activist's $17 per share bid to takeover Mentor Graphics (Nasdaq: MENT) was eschewed by the company, which preferred to raise capital the old fashioned way... with a convertible debt offering. Icahn has since offered to loan Mentor $220 million over 2.5 years, however the company has yet to respond.
Needless to say, Carl's having a tough week. Investors are waiting to see whether Mentor will cave and accept Icahn's loan offer (note: Icahn said that there's no rush, since the current notes aren't set to expire until March 2013).
The stock last traded at $6.25, up 0.6 percent from Tuesday's closing price.
The ruling follows a decision by a U.S. District judge last week that Icahn failing to disclose plans related to a possible Lions Gate-MGM merger was not a violation of securities law.
Elsewhere on the Icahn front, the activist's $17 per share bid to takeover Mentor Graphics (Nasdaq: MENT) was eschewed by the company, which preferred to raise capital the old fashioned way... with a convertible debt offering. Icahn has since offered to loan Mentor $220 million over 2.5 years, however the company has yet to respond.
Needless to say, Carl's having a tough week. Investors are waiting to see whether Mentor will cave and accept Icahn's loan offer (note: Icahn said that there's no rush, since the current notes aren't set to expire until March 2013).
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