Superior Industries Says Gamco Withdraws Shareholder Proposal For Tender Offer

(RTTNews) - Superior Industries International Inc. (SUP) announced that Gamco Asset Management Inc. has withdrawn its shareholder proposal related to a "Dutch Auction" tender offer to repurchase at least $40 million of the company's outstanding common stock.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 $22 million of the company's common stock under its $30 million stock repurchase program authorized in March 2013.