Institutional Shareholder Services, a company that advises companies on proxy votes, recommended that PAETEC's (Nasdaq: PAET) shareholders vote to approve its merger with Windstream (Nasdaq: WIN).
Shareholders will vote Oct. 27 on whether or not to approve the $2.3 billion deal. Under the terms previously announced deal, they would get 0.46 shares of Windstream for each share of PAETEC.
The company said in its own analysis of the impending transaction that it came up with the recommendation following reviews that Windstream is offering a fair price for PAETEC.
Late last week, Windstream settled a lawsuit with PAETEC shareholders over various issues, including number of new disclosures about the deal have been added to information previously disclosed in earlier proxies.
- Democrat and Chronicle has this article
Windstream settles shareholder lawsuit ahead of PAETEC acquisition
Sizing up the competitive shifts at COMPTEL Fall 2011
Report: Windstream could face bidding war for PAETEC
PAETEC shareholders to vote on Windstream merger in late October