Commercial Metals To Review Icahn's $15 Per Share Offer

Law360, New York (December 9, 2011, 7:23 PM EST) -- Commercial Metals Co. will review billionaire investor Carl Icahn's hostile $15 per share tender offer to buy the company in a deal that values the Texas-based scrap metal recycler and metal products producer at $1.73 billion, it said Friday.

"Consistent with its fiduciary duties, Commercial Metals Co.'s board of directors, in consultation with its independent financial and legal advisers, will review the offer," the company said in a statement days after it called an earlier offer opportunistic.

The offer is a 31 percent premium on the...
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