Shareholder Activist Update: Carl Icahn reaches agreements with Hain Celestial & Lions Gate Entertainment
|July 15th, 2010||
|Contributed by: Hedge Fund Solutions LLC|
|Last week activist investor Carl Icahn entered into agreements with two companies, Hain Celestial Group (HAIN) and Lions Gate Entertainment Corp. (LGF). According to Hedge Fund Solutions’ Catalyst Research Report, Hain Celestial Group will appoint two individuals recommended by Mr. Icahn (including his son, Brett Icahn) to the company’s board, and the company will also create a committee of the board to consider strategic transactions. Lions Gate Entertainment has agreed to work together with Mr. Icahn on certain acquisitions between July 9 and 19, and the company will not engage in active negotiations for any transaction that would involve over 5% of the current outstanding stock.|
Mr. Icahn has also increased his ownership position in Hain Celestial Group from 11.92% in May to 13.24% in July and now owns 5,407,546 shares in the company.
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