Icahn Sends Open Letter to CMC Holders: Will Drop Proxy if 40.1% of Shares Not Tendered
Tweet
Share
E-mailGet Alerts CMC Hot Sheet
Join SI Premium – FREE
Bloomberg reporting Carl Icahn has sent an open letter to shareholders of Commercial Metals Company (NYSE: CMC).
Icahn says he will drop his proxy if less than 40.1 percent of the shares are tendered. If more than 40.1 percent of shares are tendered, Icahn says he will continue to buy the stock. Icahn says he will go to court if "CMC doesn't capitulate to the majority."
Icahn says he will drop his proxy if less than 40.1 percent of the shares are tendered. If more than 40.1 percent of shares are tendered, Icahn says he will continue to buy the stock. Icahn says he will go to court if "CMC doesn't capitulate to the majority."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies cuts US steel outlook as Canada tariff deal looms
- Genworth Financial CEO returns from leave of absence in September
- James Hardie sells Fermacell unit to Holcim for €840 million
Create E-mail Alert Related Categories
Corporate NewsRelated Entities
Carl IcahnSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
