Glamis says ISS Canada recommends Goldcorp deal
Tue Oct 17, 2006 9:16am ET
NEW YORK, Oct 17 (Reuters) - Glamis Gold Ltd. (GLG.TO: Quote, Profile, Research) (GLG.N: Quote, Profile, Research), which agreed to be bought by Goldcorp (G.TO: Quote, Profile, Research), said on Tuesday that influential proxy advisory firm Institutional Shareholder Services Canada has recommended the deal.
The ISS recommendation comes as former Goldcorp Chief Executive and founder Robert McEwen has fought the deal and asked an Ontario court to force Goldcorp to hold a shareholder meeting on it.
ISS advises institutions on how to vote their shares.
In addition, Glamis said on Tuesday that it had been granted the right by the court to have a voice in the court application process that McEwen initiated, called intervenor status.
Due to the McEwen application's potential effect on the completion of the transaction, Glamis said it sought intervenor status in order to represent its interests and those of its shareholders in the transaction with Goldcorp. |
