Icahn presses CMC for response to takeover bid

Dec 02, 2011 | 05:02 PM | Anne Riley

Tags  Carl Icahn, Commercial Metals, CMC, PSC Metals, steel, scrap

NEW YORK — Billionaire investor Carl Icahn has threatened to take matters "into (his) own hands" after his unsolicited bid for Commercial Metals Co. (CMC) went unanswered, according to an open letter addressed to the CMC board of directors.

"We are not asking for any due diligence or financing conditions. All that we are asking is that you allow your shareholders to decide if they wish to sell their company," Icahn said in Friday’s letter. "We have received a number of inquiries from shareholders, as we are sure you have too. Shareholders deserve an answer; it is incumbent on....





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