Fruehauf’s board rejected Edelman’s takeover bid.

New York investor Asher B. Edelman had offered more than $900 million for control of the truck-trailer manufacturer. “Mr. Edelman’s proposal is not only inadequate from a financial point of view but must be considered illusory because of its highly conditional nature,” said Robert D. Rowan, chairman of the Detroit company. Edelman, who owns 6.1% of the company’s shares, said Fruehauf officials refused to discuss the offer with him. He said he wouldn’t give up his effort to acquire the company and promised to take his offer directly to the shareholders.