A dissident shareholder and his supporters were elected to the board of Schaumburg, Ill.-based Damen Financial Corp. at the company's annual meeting this month.

Paul J. Duggan, who controls 9% of the $220 million-asset company's shares, ran for board seats with Vincent Cainkar and J. Dennis Huffman as part of a yearlong effort to force Damen to sell. Under pressure from Mr. Duggan, Damen announced in February that it had agreed to be bought by Chicago-based MidCity Financial Corp. for $52 million in cash.

Mr. Duggan said he will vote to approve Damen's sale to MidCity, though he considers MidCity's $18.35 per-share offer too low. Mr. Duggan is asking Damen to reimburse him for the costs incurred in his campaign to get the company to sell.

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