Referenced Stocks

Institutional Shareholder Services Recommends Quadra Shareholders Vote in Favor of KGHM's C$3 Billion Offer

By Midnight Trader,  February 06, 2012, 08:36:49 AM EDT

Quadra FNX Mining (QUX.TO) said on Monday proxy advisory firm Institutional Shareholder Services ( ISS ) has recommended that Quadra shareholders vote in favor of Polish miner KGHM's C$3 billion offer for the Canadian miner, according to a Reuters report.

ISS advised its clients to vote in favor of KGHM's bid for Vancouver, British Columbia-based Quadra, given that "there have been no alternate offers and there are no governance concerns."

"We are pleased that ISS has confirmed our view that shareholders should support the transaction with KGHM," Quadra Chief Executive Paul Blythe reportedly said in a statement.

For the KGHM bid to succeed, it requires two-thirds of the votes cast by Quadra shareholders at the special shareholder meeting scheduled for February 20 in Vancouver.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: ISS



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