Reuters: Regulatory News: UPDATE 1-Carl Icahn cuts stake in Commercial Metals

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UPDATE 1-Carl Icahn cuts stake in Commercial Metals Apr 18th 2012, 10:48 April 18 | Wed Apr 18, 2012 6:48am EDT April 18 (Reuters) - Billionaire investor Carl Icahn cut his stake in Commercial Metals Co three months after dropping a $1.73 billion buyout offer. Icahn's stake in Commercial Metals fell to 7.49 percent, as of April 17, a regulatory filing showed. He held 9.98 percent of the company's shares as of Sept. 1. The investor had failed to gather enough support to take over the board of the metal recycler as only 23 percent of the shares were tendered in response to his offer in January.

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