Icahn Enterprises LP's Icahn Enterprises Holdings L.P. Launches Tender Offer For All Of Outstanding Shares Of Commercial Metals Company At $15 Per Share

Icahn Enterprises Holdings L.P. (a subsidiary of Icahn Enterprises LP) announced that its subsidiary, IEP Metals Sub LLC, has commenced the previously announced tender offer for all of the outstanding shares of common stock of Commercial Metals Company 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. Closing of the Offer will not be subject to any due diligence or financing conditions, but will be subject to the redemption by the Company's Board of Directors of the recently adopted poison pill and waiver by the Board of Directors of Section 203 of the Delaware General Corporation Law, as well as other customary conditions.