June 21, 2007
ISS Says No to Icahn-Lear Deal
ISS recommends a no vote on Carl Icahn's proposed $2.75 billion takeover of Lear Corp, which management supports. ISS questions the strategic rationale for the takeover and says the $36 per share price is not much of a control premium. The shareholders' meeting is scheduled for June 27. See WSJ, ISS Recommends Lear Holders Reject Icahn Bid.
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