ISS and GlassLewis back Sirius recommendation

ISS and GlassLewis back Sirius recommendation

Shareholder proxy advisory firms ISS and Glass Lewis have recommended that Sirius shareholders approve Anglo American’s £405 million offer for the company.

This comes in contrast to shareholders including Odey Asset ManagementJupiter Asset Management and retail investors represented by Sharesocthat have been urging Sirius to consider alternative financing and/or seek a higher price.

The proxy advisors agreed with Sirius that if this offer is not accepted, the company will most likely be insolvent by the end of March.

Shareholders will vote to either approve or reject the transaction on 3 March 2020.

Market Tracker will continue to monitor the developments of this transaction.

 

 

 

 

 

Related Articles:
Latest Articles:
About the author:

Market Tracker is a unique service for corporate lawyers housed within Lexis®PSL Corporate. It features a powerful transaction data analysis tool for accessing, analysing and comparing the specific features of corporate transactions, with a comprehensive and searchable library of deal documentation across 14 different deal types. The Market Tracker product also includes news and analysis of key corporate deals and activity and in-depth analysis of recent trends in corporate transactions.