Lawson Software LWSN today announced that Institutional Shareholder Services recommends that Lawson stockholders vote “FOR” the Company's proposed acquisition by GGC Software Holdings, Inc., an affiliate of Golden Gate Capital and Infor, at the special meeting of stockholders, scheduled for June 29, 2011. ISS also recommends that stockholders vote in favor of all related board-sponsored proposals.
In its June 9, 2011 report, ISS noted that*:
“Based on a review of the terms of the transaction and the factors described [in the report], in particular, the board's rationale and the premium received, shareholder support for the merger agreement is warranted.”
“We are pleased with the ISS recommendation, which supports the unanimous determination of our Board of Directors that the proposed transaction with Golden Gate Capital and Infor is in the best interests of Lawson and all of our stockholders,” said Harry Debes, Lawson's president and chief executive officer. “We look forward to completing this transaction and urge Lawson stockholders to follow ISS' recommendation by voting “FOR” the acquisition at the upcoming special meeting.”
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