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Reptron sale squeezes by on tiny vote swing

By Times staff
Published February 16, 2007

REPTRON SALE SQUEEZES BY ON TINY VOTE SWING

Reptron Inc. finally finished the job that it couldn't earlier this week: persuading its shareholders to approve a 75-cents-per-share buyout offer. At a special meeting Tuesday, just over 49 percent of the Tampa electronics manufacturer's shares were voted in favor of the deal, a hair shy of the required majority. But by Thursday, the "yea" vote had risen to 51 percent. "Tomorrow morning will be our first official day as Kimball Electronics," said Reptron CEO Paul Plante, whose new title will be vice president of medical industry solutions. "The monies were wired today."

No slam dunk, but James board back

Raymond James Financial's board of directors won re-election Thursday, but it wasn't quite the usual landslide. Institutional Shareholders Services objected to Paul Reilly's election as an independent director because he is chairman of Korn Ferry International, which last year received $215,000 in executive recruiting fees from Raymond James. Following the group's advice, some shareholders withheld their votes, leaving some candidates with as little as 78 percent of the ballots cast, compared with 99 percent for reappointment of KPMG LLP as auditor. Raymond James said the payment to Korn Ferry was too small to be of any consequence. "They don't mention the most important thing: the return to our shareholders," chairman Tom James said.

Trump taps power for help with tower

Patience, thy name isn't Donald Trump. Irked by two years of delays in starting Trump Tower Tampa, the New York tycoon suggests the proposed 52-story condo tower get a little help from friends in Miami. The Related Group, builder of two South Florida Trump high-rises, is apparently keen to expand to Tampa. One hurdle: Mirabilis Ventures Inc., an Orlando private-equity firm, bought the Tampa project last year for an undisclosed price and would expect a nice return. The fates have been cruel to the skyscraper, to which Trump is licensing his name for condos priced up to $6-million. First a real estate slump. Then unpaid contractors. Then soil problems on the riverfront lot. It could make a guy flip his wig.

Correction

An incomplete version of a story about Catalina Marketing ran in Thursday's Business section. The full story appears on 2D.

[Last modified February 16, 2007, 05:53:16]