Simpson Industries board halts proxy count

GREENVILLE, N.C. (April 19)—With the fate of Simpson Industries Inc. still unknown, the company´s board halted the proxy count at its annual meeting April 18, despite a challenge by insurgent shareholders led by Millbrook Capital Management Inc. The investment company, which seeks three seats on Simpson´s 10-member board and a non-binding resolution to explore a sale of the supplier, argued that large institutional shareholders still were sending in votes in what is expected to be a close race. The annual meeting will be reconvened May 2 at Simpson´s Plymouth, Mich., headquarters where voting results regarding the resolutions will be announced.