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Stock Market & Financial Investment News

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June 30, 2014
08:37 EDTSUPSuperior Industries reports GAMCO withdraws proposal for ‘Dutch Auction' tender
Superior Industries announced that GAMCO Asset Management Inc. has withdrawn its shareholder proposal related to a “Dutch Auction” tender offer to repurchase at least $40M of the company’s outstanding common stock. However, GAMCO retains the right to pursue the election of its three nominees to the Company’s Board of Directors at the Annual Meeting scheduled for August 15. To date, Superior has repurchased approximately $22M of the company’s common stock under its $30M stock repurchase program authorized in March 2013, the company said.
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