Simpson wins proxy contest

PLYMOUTH, Mich. (May 3)—Simpson Industries Inc. defeated shareholder proposals put forth by MMI Investments II-A L.P. by a wide margin. MMI challenged and reviewed the voting results May 2 before an independent auditor released final numbers. The dissident shareholder still is arguing that possibly hundreds of thousands of votes were miscounted, but the margins of Simpson´s wins would negate even that. Less than a third of 17.9 million total shares outstanding—82 percent of which were sent in—voted in favor of seating MMI´s appointments on Simpson´s 10-member board and exploring the sale of the company.