Icahn Gets Tough In Commercial Metals Takeover Bid

Law360, New York (December 6, 2011, 12:42 PM EST) -- Billionaire investor Carl Icahn is going hostile with his $1.73 billion bid for Commercial Metals Co., urging shareholders of the scrap metal recycler and metal products producer to accept his $15-per-share offer, according to a statement his company issued Tuesday.

Icahn ratcheted up the pressure on the Irving, Texas-based company on the same day Commercial Metals announced a Feb. 3 annual shareholders meeting and asked its rank-and-file investors to support the company's current board of directors.

"Our tender offer will be directed to shareholders and will...
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