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Icahn increases Lionsgate share

Corporate raider Carl Icahn has increased his stake in producer and distributor Lionsgate, the studio behind Mad Men and Weeds, a move that could force the sale of the company.

Icahn has increased his stake in the company three times in the last ten days and has more than doubled his stake in the past year, taking his total share close to 13%.

While, the private equity investor is often associated with acquiring stock in failing companies and recommending management shake ups, as he did recently with technology firm Yahoo, analysts believe in this case he is merely acquiring shares that he feels are undervalued.

The producer and distributor, which also produces the Saw movie franchise, has often been seen as a takeover target with companies such as CBS, MGM and Time Warner all rumoured to be interested in the company.