Navistar May Make Offer for Mack: Navistar...
From Times Staff and Wire Reports
Navistar May Make Offer for Mack: Navistar International Transportation Corp. may top French car maker Renault’s $100-million offer for Mack Trucks Inc., according to an announcement by Allentown, Pa.-based Mack. Renault controls 44.5% of Mack and is bidding $6 a share, or $100 million, for the remaining shares. Navistar said its offer would be contingent on Renault tendering its Mack shares, which the French company has declined to do, setting the stage for a takeover battle for the embattled truck company. Chicago-based Navistar, which makes tractors and farm equipment, said it would be able to make a firm offer for Mack within 10 days.
