Renault again extends deadline for takeover of Mack Trucks

September 25, 1990

Renault Vehicules Industriels has again delayed the deadline for its stock takeover of Mack Trucks Inc.

The French automotive giant said yesterday it would accept shares from Mack stockholders through 9 p.m. Friday.

This is the second deadline postponement by RVI. The $6.25-a-share bid was pushed back from last Friday to today earlier this month.

If RVI does not have control over 90 percent of Mack's stock by Friday, the company has warned that the takeover bid will fail, and the Allentown, Pa.-based truck-maker may be forced into bankruptcy.

RVI, which already owned about 45 percent of Mack's stock, said that as of 5 p.m. last Friday, 19.9 percent of the outstanding stock had been tendered.

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