Pulse Electronics Corp., which is resisting a $246 million takeover bid by an industry rival, said shareholders at its annual meeting elected all six of the nominees to the board of directors recommended by the company, according to a preliminary vote count.
The Pulse nominees included chairman and chief executive Ralph E. Faison.
Pulse, a Trevose maker of electronic parts, in March rejected the buyout offer from Bel Fuse Inc. of Jersey City, N.J.
Bel, which has pursued Pulse since late 2008, sought to elect two directors to Pulse's board.
Its buyout offer was for $6 a share. Pulse stock closed unchanged Wednesday at $5.25. - Paul Schweizer