Glass Lewis joins ISS in supporting Layne Christensen buyout [Seeking Alpha]
LAYNE CHRISTENSEN (LAYN)
Last layne christensen earnings: 6/5 04:15 pm
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Source: Seeking Alpha
Glass Lewis joins ISS in supporting Layne Christensen buyoutGlass Lewis has weighed in on Layne Christensen's (NASDAQ:LAYN) takeover by Granite Construction, urging stockholders tovote in favor of the deal.The proxy advisory firm joins Institutional Shareholder Services in supporting the deal.The consideration (0.27 shares of Granite stock for each share of Layne) is "an attractive premium to Layne's standalone value over all periods analyzed," Glass Lewis says, and its all-stock nature eliminates execution risk tied to near-term debt and capital raises.The company has a special meeting set for June 13 to vote on the merger.Click to subscribe to real-time analytics on LAYNNow read:First Midwest Bancorp to acquire Northern States Financial Corporation »
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