Glass Lewis backs Telus share exchange plan ahead of vote

VANCOUVER - Proxy advisory firm Glass Lewis & Co is backing Telus’ shareholder consolidation plan as its ongoing dispute with U.S. hedge fund Mason Capital Management drags on ahead of an October 17th meeting where investors will vote on the proposal. In Telus’ most recent news release, it says Glass Lewis & Co is recommending that its institutional investor clients vote in favour of the telecom’s proposal to exchange its non-voting shares into common shares on a one-for-one basis. This follows a similar recommendation made last week from Institutional Shareholder Services (ISS), another proxy advisory firm. In its report Glass...