Lionsgate shares spike as Legendary Entertainment revives takeover talks

Lionsgate shares have spiked following news that Legendary Entertainment has submitted a takeover offer for the Hollywood studio. This development follows an initial interest expressed by the Dune producer regarding a potential acquisition last year. The move signals a revival of takeover talks between the two entities, as Legendary Entertainment officially seeks to acquire Lionsgate, leading to an immediate positive reaction in the stock market for the targeted studio according to recent reports.