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January 17, 2013
17:39 EDTIEP, ARIIAmerican Railcar in purchase and engineering pact with ACF
American Railcar Industries (ARII) entered into a purchasing and engineering services agreement and license with ACF Industries, , a company controlled by Mr. Carl Icahn, the chairman of ARIís board of directors and, through Icahn Enterprises (IEP)., ARIís principal beneficial stockholder. The Agreement was unanimously approved by the independent directors of ARIís audit committee on the basis that the terms of the Agreement were not materially less favorable to ARI than those that could have been obtained in a comparable transaction with an unrelated person.
News For ARII;IEP From The Last 14 Days
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October 6, 2015
10:22 EDTIEPBoard cut, unit review push Freeport shares higher
Shares of copper producer Freeport-McMoRan (FCX) are rallying in morning trading after the company announced plans to review strategic alternatives for its oil and gas business. The company also said it would shrink its board to nine members. WHAT'S NEW: Freeport-McMoRan said this morning that it is reviewing strategic alternatives for its oil and gas business, FM O&G, amid a tumble in commodity prices. In a statement, Freeport said it is studying options for achieving self-funding of the oil and gas unit. FM O&G's "high quality asset base, substantial underutilized Deepwater Gulf of Mexico infrastructure, large inventory of low risk development opportunities and talented and experienced personnel and management team provide alternatives to generate value," it wrote. A previously disclosed potential initial public offering of a minority interest in the oil and gas business remains an alternative for future consideration, the company said. The copper producer said that other alternatives under consideration include a spinoff of the company's oil and gas business to shareholders, joint venture arrangements and further spending reductions. In addition to the FM O&G news, Freeport-McMoRan also announced this morning that it reduced the size of its board of directors from 16 to nine members. These actions, the company said, follow "constructive discussions with many of its largest shareholders." The company said five directors have left the FCX board and have been appointed to the FM O&G board, with James Flores named FM O&G Chairman; Flores remains FM O&G's chief executive officer. WHAT'S NOTABLE: Freeport-McMoRan said earlier this year it would consider selling as much as 20% of its oil and gas unit in an IPO. In June, Chief Financial Officer Kathleen Quirk said the company would likely sell less than 20%, since keeping 80% of the unit would provide the company with some tax advantages. Activist investor Carl Icahn raised his stake in Freeport-McMoRan to 8.8% from 8.46% on September 18. Icahn told CNBC on September 30 that it was "right to expect" that he would get involved with the copper producer. Icahn said that too much copper is being produced now, depressing its price, but believes copper will turn in the future. PRICE ACTION: Freeport-McMoRan rose 6.26% to $11.88 in morning trading. Shares are down over 49% year to date. OTHERS TO WATCH: Other major integrated mining companies include Rio Tinto (RIO), BHP Billiton (BHP) and Vale S.A. (VALE).
October 1, 2015
09:36 EDTARIIRailcar sector downgraded to Negative from Mixed at OTR Global
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September 24, 2015
17:27 EDTIEPIcahn Enterprises announces launch of new Icahn website
Icahn Enterprises issued the following statement: "On April 2, 2013, the SEC issued a report in which it provided guidance to issuers regarding the use of social media to disclose material nonpublic information. Our Chairman, Carl C. Icahn, intends to use the web site as well as Tumblr, Facebook, Twitter and the web site from time to time to communicate with the public about our company and other issues. It is possible that the information that Icahn posts through the website and to its members, and on Tumblr, Facebook and Twitter, and through the shareholders' Square Table website and to its members, could be deemed to be material information. Therefore, in light of the SEC's guidance, we encourage investors, the media, and others interested in our company to review the information that Icahn provides on the website and to members of, and that he posts on Tumblr, Facebook and Twitter, and that he provides on the shareholders' Square Table website and to its members, in addition to the information that we disclose using our investor relations website... SEC filings, press releases, public conference calls and webcasts."

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