MACK EXPECTS BIGGER LOSSES TRUCK MAKER REVISES EARLIER 1990 FORECAST SECOND Edition
Renault, which owns 44.6 percent of Mack's shares and an option to buy an additional 16 percent, has extended its $6-a-share tender offer to Wednesday 22 at 9 p.m. Renault wants a 90 percent stake in Mack, making the truck maker a wholly owned subsidiary. Mack's news comes just days after...
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| Published in | The morning call (Allentown, Pa.) |
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| Main Author | |
| Format | Newspaper Article |
| Language | English |
| Published |
Allentown, Pa
Tribune Publishing Company, LLC
18.08.1990
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| Online Access | Get full text |
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| Summary: | Renault, which owns 44.6 percent of Mack's shares and an option to buy an additional 16 percent, has extended its $6-a-share tender offer to Wednesday 22 at 9 p.m. Renault wants a 90 percent stake in Mack, making the truck maker a wholly owned subsidiary. Mack's news comes just days after competitor Navistar International of Chicago, similarly bruised by feeble truck sales, posted a 79 percent plunge in third-quarter profits. Like Mack, Navistar trimmed its sales projections for fiscal 1990 -- a signal that a recovery in truck orders is not materializing. |
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| ISSN: | 0884-5557 |