Newcor delays poison pill redemption

BLOOMFIELD HILLS, Mich. (July 14)—Newcor Inc. has extended the date by which it must make a decision to redeem its shareholder rights plan until August 4. Exx Inc., a Las Vegas-based electronics and toy manufacturer, June 29 increased its holdings in Newcor Inc. to 15.1 percent, slightly more than the trigger for Newcor´s ``poison pill.´´ After acquiring 14 percent of Newcor´s common stock, Exx said in May that it would make a bid of $4 per share of common stock, according to documents filed with the Securities and Exchange Commission. To date, Newcor has not officially responded to the Exx offer.