Billionaire investor Carl Icahn on Thursday announced a tender offer to buy about $325 million in Lions Gate Entertainment Inc convertible notes, one day after talks aimed at getting board representation at the studio had broken off.

Lions Gate was not immediately available for comment.

Lions Gate shares fell 27 cents, or 5.44 percent, to close at $4.69 on the New York Stock Exchange.

(Reporting by Sue Zeidler; editing by Richard Chang)

Carl icahn