Market Overview

Commercial Metals Company Issues Statement in Response to Expiration of Carl Icahn's Tender Offer and Withdrawal of Director Nominees

Commercial Metals Company (NYSE: CMC) today issued the following statement regarding the announcement by IEP Metals Sub LLC, an affiliate of Carl Icahn, that its tender offer for the Company has expired and that Mr. Icahn has withdrawn his nominees for election to the Company's Board at its Annual Meeting:

"We are pleased that Mr. Icahn has ended the proxy contest following the expiration of the tender offer. The Board has great confidence in the Company's future and believes that the continued execution of its strategic plan, which is already yielding positive results, will deliver enhanced value to our stockholders. We look forward to our upcoming Annual Meeting where our highly qualified director nominees – Harold L. Adams, Joe Alvarado and Anthony A. Massaro – are standing for election to the Board. Our Board and management remain focused on building on our momentum, and we would like to thank stockholders for their continued support."

Posted-In: News M&A

 

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