Legendary "activist investor" Carl Icahn's latest bid for the film studio was rejected again, but with his track record of hostile takeovers, and the studio's love of Ashton Kutcher, these execs may want to start job hunting soon.
Icahn sees problems with a company that, among many things, "has also spent what an insider said was close to $75 million on the Ashton Kutcher vehicle Killers that looks to be a dud," according to The Daily Beast. An Ashton Kutcher movie for $75 million?! Asked about being perceived as a vicious corporate raider who uses a scorched-earth policy in boardrooms, Icahn recently told the Times: "It's just that, in some cases, the C.E.O.'s are so wrong." No kidding, Carl!
Lions Gate CEO Jon Feltheimer said in a statement that Icahn wanted to takeover the company "without offering a meaningful vision, without demonstrating a relevant track record of industry experience and without paying a control premium." Lions Gate is unhappy with Icahn's $6-per-share bid for the company.
But some at the studio wish they had taken the offer. A source told the Beast:
If Icahn is a shareholder in your company, you have two choices: let him in the tent or let him kill you."
Ouch. This may not end well for everyone.