Commercial Metals Company announced that it amended its Stockholder Rights Plan to accelerate the final expiration of the rights issued pursuant to the Plan to December 6th 2012. The rights had previously been slated to expire on August 1st 2014. As a result of the amendment, as of the close of business on December 6th 2012, the rights are no longer outstanding and are not exercisable, and the Plan has effectively terminated. Stockholders do not need to take any action as a result of this termination.
CMC's Board said in a statement that "After careful consideration, the Board determined that terminating the Plan is appropriate at this time. The Board expressly reserves its right to adopt a new stockholder rights plan in the future, if appropriate under the circumstances."
