Towers Watson & Co. shareholders should vote against an $8.9 billion merger with Willis Group Holdings Plc even after the insurance broker increased the offer amid a backlash from investors, proxy adviser Glass Lewis & Co. said in a report. …
Institutional Shareholder Services’ recommendation that Towers Watson & Co. investors vote against the proposed merger with Willis Group Holdings Plc is legitimizing short-term shareholder activism, ValueAct Capital Management said. The report encourages “bumpitrage,” which is where shareholder activists purchase the …
Willis Group Holdings plc said it was “disappointed” that Institutional Shareholder Services last week recommended Tower Watson shareholders reject the proposed merger with Willis. “[W]e are disappointed with their conclusion that Towers Watson shareholders should not support the merger. We …
Towers Watson & Co. investors should reject a planned merger with insurance broker Willis Group Holdings Plc, proxy advisers Institutional Shareholder Services and Glass Lewis & Co. said. The consulting firm’s holders should seek improved merger terms, or “the better …
PartnerRe Ltd. investors should reject a planned merger with rival reinsurer AXIS Capital Holdings Ltd. and instead opt for a bid of more than $6.7 billion from Italy’s EXOR SpA, ISS Proxy Advisory Services said in a report. “A vote …
Allied World Assurance Company Holdings, AG announced that Institutional Shareholder Services (ISS), an independent proxy advisory service, has “issued a report recommending that shareholders of Allied World vote in favor of all of the proposals associated with the merger with …
