MUMBAI: Lionsgate is soon nearing an agreement with Carl Icahn that includes giving the corporate a boardroom representation. Icahn may agree to withdraw his $7 per-share hostile tender offer in return for a board seat at the mini-studio.

Lionsgate‘s current management has so far been successful in denying Icahn in putting up his own representatives in the company‘s boardroom.

Given its disclosure requirements as a public company, Lionsgate would be required to disclose details of any specific settlement proposal with Icahn, which the company has yet to do.

Asked for details of the soon to be reached agreement Lionsgate vice chairman Michael Burns said only that his company did not publicly reveal details about conversations with major stockholders.

Representatives at the Icahn Group, which holds a near-19% stake in Lionsgate, were not available for comment at press time.