ISS recommends Abcam shareholders vote for Danaher deal

Abcam (ABCM) announced that leading independent proxy advisor Institutional Shareholder Services recommended that Abcam shareholders vote “for” Danaher’s (DHR )proposed acquisition of Abcam ahead of its shareholder meetings on November 6. Alan Hirzel, Chief Executive Officer of Abcam, said: “We are pleased that ISS supports our board’s unanimous recommendation that shareholders vote “FOR” the proposed sale to Danaher. We are confident this transaction is in the best interests of Abcam and its shareholders, and will deliver an excellent outcome for Abcam’s employees and customers. We strongly urge all Abcam shareholders to follow the recommendation of our board and ISS.” “In light of the thorough sales process, the premium and certainty of value inherent in the (Danaher) all-cash offer, and the reasonable valuation, the proposed transaction appears to be a superior alternative to the downside risk and uncertainty inherent in Milner’s underdeveloped plan to create value through a board refresh. As such, support for the proposed transaction is warranted.” ”