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Select Comfort recount confirms that investors reject sale

The Star Tribune reports today that a recount hasn’t changed the results of a vote by Select Comfort shareholders on whether to sell the company to a private-equity firm.

Another razor-thin election recount?

Select Comfort shareholders voted against selling a majority share to a private-equity firm, but the results were almost as close as the Franken-Coleman race, with 49.95 percent supporting a sale of the company.

Sterling Partners, the firm that’s seeking to acquire the bed retailer, requested a recount, and the Star Tribune reports today that Select Comfort’s recount affirmed a vote against the sale.

A company spokeswoman says the recount resulted in the ‘yes’ vote budging slightly from 49.94 percent. The newspaper notes that questions remain about how the company will raise capital in the coming months.