ISS and Glass Lewis Recommend TDS Shareholders Vote for Revised Plan to Reclassify Special Common Shares and Common Shares
Telephone and Data Systems, Inc. (NYSE: TDS) announced today that Institutional Shareholder Services, Inc. and Glass, Lewis & Co., LLC recommend that holders of each of the TDS Common Shares and Special Common Shares vote "FOR" the proposed amendments to the TDS certificate of incorporation.
The revised amendments include a share consolidation amendment to reclassify each Special Common Share as one Common Share, each Common Share as 1.087 Common Shares, and each Series A Common Share as 1.087 Series A Common Shares.
The revised plan made no substantive changes to the vote amendment, which sets the Series A Common Shares voting rights at current levels.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.