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 inThe morning call (Allentown, Pa.)
Main Author Funk, Nancy M
Format Newspaper Article
LanguageEnglish
Published Allentown, Pa Tribune Publishing Company, LLC 18.08.1990
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Abstract 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.
AbstractList 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.
Author Funk, Nancy M
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Snippet 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...
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Title MACK EXPECTS BIGGER LOSSES TRUCK MAKER REVISES EARLIER 1990 FORECAST
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