USA Tech Rejects Move By Former Director To Name Board Slate

DOW JONES NEWSWIRES

 

USA Technologies Inc. (USAT) has rejected efforts by former board member Bradley Tirpak to nominate himself, along with six associates, as candidates for the board, saying Tirpak's plans "effectively represent a hostile takeover."

 

The company, which provides products that allow credit and debit-card payments through vending machines and other locations, said the Tirpak's effort would give him and his associates control of the board, an outcome "with zero control premium to its shareholders."

 

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