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Todd Spangler
NY Digital Editor
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Glen Wilson/Lionsgate Is Lionsgate — a long-rumored acquisition target — going to find a buyer this time? Production company Legendary Entertainment has revived its bid to acquire Lionsgate, according to a Bloomberg report.
Shares of Lionsgate popped more than 15% Tuesday on the report. Legendary submitted a takeover offer for Lionsgate that values Lionsgate at $3.5 billion (including $1.9 billion in debt), per Bloomberg, citing anonymous sources. A merger with Lionsgate could allow Legendary to self-distribute its films.
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