After acquiring 14.5% of Lionsgate's shares, Golden Shell Investment continued to buy more Lionsgate shares from the market and other shareholders, eventually spending $210 million to secure a 26.8% stake in Lionsgate Films.
Meanwhile, the second-largest shareholder and media mogul, John Malone, also joined in the pursuit to acquire the remaining shares of Lionsgate.
He spent $80 million subsequently, increasing his holding in Lionsgate Films to 32.2%, surpassing Jon Felth, and becoming the largest shareholder of Lionsgate.
Due to the competition between the two for Lionsgate Films' shares, the stock price of Lionsgate on the New York Stock Exchange continuously rose.
From an initial price of $7.4 to $10.2, the market value of Lionsgate Films successfully broke through $800 million, with a Friday quote by The Wall Street Journal of $850 million, a rise of almost 30%.
