Billionaire investor Carl Icahn has now offered to buy all of Lions Gate Entertainment Corp's outstanding common shares for $6 each, deviating from its previous offer to buy 13.2 million shares at the same price.

"Lions Gate previously criticized our tender offer for being partial", he said. "That is no longer the case".

Icahn, who currently holds 18.9 percent of Lions Gate, the independent studio behind the hit TV series "Mad Men", had previously offered to buy those shares in February. However, the offer was turned down as it was cited to be very low.

Icahn revealed on Friday that he intended to launch a legal action against Lions Gate's poison pill. In case if his offer proves to be a success, his firm, the Icahn Group, would replace the studio's board of directors with its own nominees.

Mr. Icahn also has blatantly rebuked Lions Gate's use of cash, including its 2009 purchase of TV Guide Network and TVGuide. com for $255 million.

Lions Gate shares, which registered a rise up to 5.5 percent in premarket trading, witnessed an steep surge by 0.5 percent at $6 on the New York Stock Exchange.