"We are pleased that ISS, Glass Lewis and Proxy Governance have recommended that Lexington's common shareholders vote in favor of the merger with Newkirk. We believe that the merger will significantly enhance long-term growth opportunities thereby creating substantial value for shareholders," says CEO T. Wilson Eglin in a release. The combined companies are estimated to be worth $4.6 billion.
Lexington will hold a special shareholders meeting on Nov. 20 for shareholders to cast their vote for or against the merger. The plan to merge was first made public in July, as reported by GlobeSt.com.
ISS also recommended Reckson shareholders vote for the merger with SL Green, asGlobeSt.com reported last week.
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