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.
Newcor delays poison pill redemption
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