Discovery Group urges Tessco Technologies to drop poison pill

By Lisa Kerner

Charlotte, N.C., July 9 - Tessco Technologies Inc. shareholder Discovery Group asked the company's board of directors to remove its poison pill and rescind the change to the requirements to call special stockholder meetings.

Discovery Group, a 13% shareholder, said it will not be able to support the current Tessco board without these changes, it was reported in a schedule 13D filed with the Securities and Exchange Commission.

In a July 8 letter to the board included in the filing, Discover Group explained the votes it is submitting with its proxy. Tessco's annual meeting is set for July 24.

Discovery Group voted against the election of company founder and chief executive officer Robert B. Barnhill Jr. and director Benn Konsynski, citing the board's approval of the poison pill and shareholder rights plan.

The shareholder also voted for the appointment of Ernst & Young LLP as the independent public accounting firm and for three proposals related to the company's 1994 stock and incentive plan.

Tessco, located in Hunt Valley, Md., provides integrated product and supply chain solutions to the wireless industry.

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