Decisions
Icahn Partners LP, Icahn Master Fund LP, Icahn Partners Master Fund II LP, Icahn Master Fund Partners III LP, High River Limited Partnership, Icahn Fund S.àRL and Daazi Holding B.V. (collectively, the “Icahn Group”) and Lions Gate Entertainment Corp. [Decision]
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BCSECCOM #:
2010 BCSECCOM 214
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Document Type:
Decision
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Published Date:
2010-04-27
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Effective Date:
2010-04-27
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Details:
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2010 BCSECCOM 214
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2010 BCSECCOM 214
Icahn Partners LP, Icahn Master Fund LP,
Icahn Partners Master Fund II LP,
Icahn Master Fund Partners III LP, High River Limited Partnership,
Icahn Fund S.àRL and Daazi Holding B.V.
(collectively, the “Icahn Group”)
and
Lions Gate Entertainment Corp.
Securities Act, RSBC 1996, c. 418
| Panel | Brent W. Aitken, Vice Chair Kenneth G. Hanna, Commissioner Shelley C. Williams, Commissioner |
| Date of application | March 24, 2010 |
| Date of hearing | April 26 and 27, 2010 |
| Date of decision | April 27, 2010 |
| Appearing |  |
| Mark Gelowitz Allan Coleman Robert Anderson, Q.C. | For the Icahn Group |
| Jessica Kimmel Jonathan Lampe Geoff Plant, Q.C. Patricia Taylor | For Lions Gate Entertainment Corp. |
| Shawn McColm Leslie Rose Gordon R. Smith | For the Executive Director |
Decision
¶ 1 The Icahn Group has made an offer to acquire all of the common shares of Lions Gate Entertainment Corp. On March 24, 2010 the Icahn group applied for an order cease-trading a shareholder rights plan adopted by the Lions Gate Board of Directors on March 11, 2010.
¶ 2 We heard the application yesterday and today.
¶ 3 We grant the application. Accordingly, we order, under section 161(1)(b) of the Securities Act, RSBC 1996, c. 418, that all persons cease trading any securities issued, or to be issued, under, or in connection with, the Lions Gate shareholder rights plan, including, without limitation, any rights issued under that plan and any common shares of Lions Gate to be issued upon the exercise of those rights.
¶ 4 Our reasons will follow.
¶ 5 April 27, 2010
For the Commission
Brent W. Aitken
Vice Chair
Kenneth G. Hanna
Commissioner
Shelley C. Williams
Commissioner