The latest round in the battle for Lionsgate took an expected turn as the company’s board rallied against Carl Icahn’s recently modified hostile takeover.

Icahn proposed a tender offer last week for all outstanding shares at $7.50 a share, however in a meeting of Lionsgate’s board this week the members rejected that move.

Board members voted to recommend that shareholders also reject the offer, which expires on October 22.

Confidence at Lionsgate is high following the recent box office performance of The Last Exorcism and The Expendables and a strong Emmy haul for the television division’s Mad Men and Nurse Jackie.