Icahn adopts all-or-nothing CMC approach
Dec 29, 2011 | 12:09 PM
| Lisa Gordon
Tags
steel,
Commercial Metals,
Icahn Enterprises Holdings,
Carl Icahn,
Lisa Gordon
PITTSBURGH — Icahn Enterprises Holdings LP has advised Commercial Metals Co. (CMC) shareholders that it has adopted an all-or-nothing approach in its quest to acquire the company at $15 per share.
"We do not wish to remain a minority holder in a company run by the current board and will therefore drop our proxy fight if 40.1 percent of the shares of the company are not tendered," Icahn Enterprises....
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