BLOOMFIELD HILLS, Mich. (May 4)—A major shareholder of rubber and plastics molder Newcor Inc. said in federal documents it will make a bid for the supplier. Las Vegas electronics and toy manufacturer EXX Inc., which has acquired 14 percent of Newcor´s stock since last fall, is offering $4 per share of common stock, according to Securities and Exchange Commission documents. Newcor´s stock rose from $1.875 per share on April 27 to $2.75 early this afternoon. EXX posts annual sales of $20 million compared to Newcor´s 1999 revenue of $258.5 million.
Newcor shareholder to bid for supplier
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