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Article: Dissidents Fail to Oust Incumbent El Paso Board.
- Article from:
- The Oil Daily
- Article date:
- June 18, 2003
- Author:
CopyrightCOPYRIGHT 2003 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON -- El Paso's incumbent board of directors claimed a very narrow victory in a hard-fought proxy fight with a group of dissident shareholders.
Final figures won't be available for several weeks until elections inspectors tally and certify ballots, El Paso interim Chairman and Chief Executive Ronald Kuehn said Tuesday at the company's annual shareholders' meeting in Houston.
"Based on the information I have, it appears El Paso's nominees, in a close vote, have been elected," Kuehn said after declaring the polls closed.
El Paso had some 600 million shares outstanding. The incumbent slate of directors may be ahead by fewer than 30 million ...