The largest and most influential proxy advisory firms in the country have issued conflicting advisories regarding the Sprint-Nextel proposal to take over Clearwire Corp.
ISS has advised its Clearwire shareholders to vote for the deal while on the other Glass Lewis is advising its Clearwire shareholders to vote against it.
According to ISS, Clearwire lacked any other better options to help keep the wireless service company afloat and running. On the other hand, Glass Lewis said that Sprint failed to 'provide a clear, compelling case' to recommend that its offer is the best option available for the future of Clearwire.
For its part, Clearwire continued to support the Sprint proposal and it took a potshot at Glass Lewis saying the second largest proxy firm 'reached the wrong conclusion' as well as 'failed to recognize the comprehensive process' that made Clearwire accept the Sprint offer. The company also lauded the ISS recommendation.
Join the Conversation