Zenith Holders Urged to Reject Nycor Bid:...
Zenith Holders Urged to Reject Nycor Bid: In a letter dated Feb. 20 and signed on behalf of the board of directors, Zenith Electronics Corp. Chairman and President Jerry K. Pearlman asked shareholders not to sign any proxy statement sent to them by Nycor Inc., an investment company based in Basking Ridge, N.J. Nycor, which currently holds an 8.2% stake in the Glenview, Ill.-based consumer electronics firm, announced last month it would solicit shareholder proxies for its own slate of directors at Zenith’s annual meeting April 24.
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