BRIEF-Forestar says unsolicited proposal from D.R. Horton constitutes “superior proposal”
* Forestar board of directors determines unsolicited proposal from d.r. Horton constitutes a “superior proposal”
Nov 14 Truck parts maker Meritor Inc posted a fall in quarterly profit, hurt by weak sales in Brazil, India and China.
Net income from continuing operations fell to $4 million, or 4 cents per share, in the fourth quarter from $38 million, or 40 cents per share, a year earlier.
Excluding items, Meritor earned 32 cents per share.
Revenue dropped 19 percent to $986 million.
* Inventronics appoints new directors and announces reclassification as a tier 2 issuer on tsx venture exchange