CORPORATIONS: Defense & Offense

In a proxy fight for control of a company, the embattled management usually considers itself victorious if it merely beats off the rebellious stockholders. But in Detroit last week, President Roy Fruehauf, of Fruehauf Trailer Co., biggest U.S. manufacturer of truck trailers, not only routed a rebel but took over the rebel's firm.

The war broke out last year when the Detroit & Cleveland Navigation Co., an investment firm headed by George J. Kolowich, made a deal with Roy Fruehauf's older brother Harvey, who had been eased out of the Fruehauf board...

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