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Talk of the bay: Reptron reeling after rejection of planned sale

By TImes staff writer
Published February 14, 2007

REPTRON REELING AFTER REJECTION OF PLANNED SALE

It wasn't supposed to be this hard. Shareholders dealt Reptron Inc. a shocking blow Monday when they narrowly rejected the Tampa electronics company's proposed sale. Everything had seemed on target: A leading proxy advice firm recently endorsed the buyout, and just last week, acquirer Kimball Electronics upped its offer 7 cents to 75 cents per share. That wasn't high enough for some investors, however. Though Reptron has until Thursday to persuade some nonvoters to take its side, Kimball says 75 cents is its final offer.

Growing pains for Medicare insurer

Growth is great when you can keep up with it. But when growth causes strains on finances and customer service, it can bring down the investigators. Just ask Universal Health Care Inc. of St. Petersburg. Last week the private Medicare insurer answered questions from officials with the federal Centers for Medicare and Medicaid Services, who conducted a special audit in response to a number of customer complaints. Meanwhile, officials with the Florida Office of Insurance Regulation have spent the past two weeks checking into Universal's finances. Insurers are required to maintain a surplus based on their enrollment, and state regulators suspect Universal's growth has outpaced its financial reserves.

OSI's recipe could serve Applebee's

If imitation is the highest form of flattery, Applebee's International just delivered Tampa's OSI Restaurant Partners Inc. a big wet kiss. The Kansas-based company and Outback Steakhouse competitor said Tuesday it is exploring strategic options, including the possibility of seeking a buyer. Like OSI, which expects to be acquired by a group of private equity firms in April, Applebee's has suffered lagging sales and has been pressured by activist shareholders to increase its return on investment.

[Last modified February 13, 2007, 22:52:53]