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CMC sends letter to shareholders urging them to reject Ichan offer
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Tuesday, 20 Dec 2011
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Commercial Metals Company sent a letter from its board of directors to its stockholders highlighting the significant progress the company is making on the execution of its strategic plan and the substantial steps it is taking to deliver stockholder value.

The letter urges stockholders to vote for its highly qualified slate of directors on the WHITE proxy card to continue this momentum and reject what it believes is a severely unqualified group of candidates nominated by Carl Icahn who will only seek to further Mr Icahn's opportunistic attempt to acquire CMC.

The letter said “DON'T LET CARL ICAHN TAKE VALUE THAT RIGHTFULLY BELONGS TO YOU!”

It also said “YOUR BOARD AND MANAGEMENT TEAM HAVE TAKEN SIGNIFICANT ACTIONS THAT ARE YIELDING RESULTS”

It promised “IMPROVED FINANCIAL PERFORMANCE IN FISCAL 2011 AND CONTINUING IMPROVEMENT IN FIRST QUARTER FISCAL 2012”

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