Commercial Metals Company Up 1% After Icahn Commences Previously Announced Offer

By Staff,

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Shares of Commercial Metals Company ( CMC ) were up 1% on the back of an announcement by Icahn Enterprises Holdings L.P. that its subsidiary, IEP Metals Sub LLC, has commenced the previously announced tender offer for all of the outstanding shares of common stock of CMC at $15 per share net to the seller in cash.

The Offer price represents a premium of 31% over the $11.45 closing price of the Common Stock on November 25, 2011, the day prior to Icahn's announced offer to acquire the Company by merger.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Commodities
Referenced Stocks: CMC

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