Diversified industrial manufacturer Eaton Corporation ETN today
announced that all three leading independent proxy advisory firms--
Institutional Shareholder Services (ISS), Glass Lewis and Egan-Jones-- have
recommended that Eaton Corporation shareholders vote in favor of adopting the
transaction agreement in which Eaton will acquire Cooper Industries plc CBE through the formation of a new holding company incorporated in Ireland,
which will be renamed Eaton Corporation plc.
In recommending that the transaction be approved, ISS noted, “Given the sound
strategic rationale and positive market reaction through the date of this
analysis, a vote FOR the merger is warranted.”
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