GSE Systems announces Glass Lewis recommended shareholders to vote FOR merger

GSE Solutions announced that independent proxy advisory firm Glass Lewis & Co. recommended that GSE shareholders vote “FOR” the approval of the Agreement and Plan of Merger, dated as of August 8 by and between GSE, Nuclear Engineering Holdings LLC, and Gamma Nuclear Merger Sub. In its October 17 report recommending approval of the Merger Proposal, Glass Lewis stated: “Based on the Company’s disclosure of the background leading up to the Merger Agreement, we believe the Company undertook a reasonably comprehensive strategic review here.” “(C)onsidering the Company’s recent financial struggles, we believe the proposed merger represents a compelling option, as it will provide certainty of value and a meaningful market premium to the Company’s shareholders.” In relation to October stock acquisitions, Glass Lewis further notes that while Bradley Radoff very recently acquired a stake in the Company, “(he) has yet to submit an alternative actionable proposal to the Company” and GSE shareholders should “be mindful of the fact that Mr. Radoff acquired his entire initial equity stake in the Company in October 2024, more than three weeks after the record date of (the special) meeting .” Therefore, Glass Lewis cautions, “Mr. Radoff and his affiliates will not be eligible to vote at (the special) meeting.”