LAS VEGAS (July 10)—Exx Inc., a Las Vegas-based electronics and toy manufacturer, June 29 increased its holdings in Newcor Inc. to 15.1 percentÃmore than all of the officers and directors of Newcor combinedÃin a move that could trigger the so-called "poison pill" or shareholder rights plan Newcor adopted in 1999. Newcor executives could not be reached for comment. Concurrent with disclosure of its increased holdings, in an open letter to Newcor´s board of directors, Exx urged the board not to enact the pill, but rather to grant Exx representation on the board and meet with its chairman, David A. Segal, to bring the shareholder´s "`turn-around´ skills to bear to help restore Newcor to profitability."
Exx Inc. increases stake in Newcor
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