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After three years of messy battling, Lionsgate and Carl Icahn have made peace abruptly eliminating what had been on major distraction for the mini-major.
The billionaire investor and Lionsgate jointly announced Tuesday that Icahn and his son Brett have agreed to sell his 33% stake in the company in a series of deals worth about $309 million at $7 a share.
Lionsgate noted the price was approximately 7% below Friday's closing market price of $7.55 and about the same as Icahn's cost basis for the shares.
"We believe that this accretive and antidilutive transaction is in the best interests of all Lionsgate shareholders, and it allows the company to continue to …