Earlier, the company forecasted first quarter earnings of $0.14 to $0.24, ex-an $0.87 tax benefit and discontinued operations of approx. $0.14 vs $0.14 Capital IQ Consensus Estimate. The company also announces its Board recommends stockholders reject Carl Icahn's tender offer and not tender their shares.
Separately, this morning, the company announced that its Board of Directors, after consultation with its independent legal and financial advisers, unanimously recommends that CMC stockholders reject the unsolicited tender offer from IEP Metals Sub, an affiliate of Carl Icahn, to acquire CMC for $15.00 per share, as it substantially undervalues CMC, is opportunistic and is not in the best interests of its stockholders.






