Lions Gate Entertainment (LGF) has again offered to merge with MGM, according to regulatory filings and media reports.
Lions Gate is proposing a deal that would give MGM shareholders and creditors 55% of the combined company.
Billionaire investor Carl Icahn, who himself is attempting a $7.50 per share takeover of Lions Gate, said he supports Lions Gate’s acquisition of MGM.
Icahn also owns MGM debt.
Terms of the proposal were not disclosed.
MGM is currently making reorganization plans, and its current plan include a combination with Spyglass Entertainment. Icahn said the Lions Gate deal would be preferable.
Both Lions Gate and Time Warner (TWX) have made bids for embattled MGM in the past.
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