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.
For more:
- Democrat and Chronicle has this article
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