Itel Plans to Buy Ryder Stock: Itel...
From Times Staff and Wire Reports
Itel Plans to Buy Ryder Stock: Itel Corp. has filed notice that it plans to acquire at least $15 million in Ryder System Inc. common stock, rekindling speculation that the transportation services firm might be a takeover target. Ryder’s board thinks that it is in the Miami-based company’s best long-term interest to remain independent, said M. Anthony Burns, Ryder chairman, president and chief executive. An Itel spokeswoman had no comment on the filing. Ryder provides highway transportation, aviation and insurance management services. Chicago-based Itel owns rail car leasing, container leasing and warehouse divisions.
