Axia sale given thumbs up by proxy advisory research firms

CALGARY - Independent proxy advisory firms Institutional Shareholder Services Inc. (ISS) and Glass, Lewis & Co. (Glass Lewis) are recommending that shareholders of Axia NetMedia vote for the going private transaction.Axia NetMedia said last month that it had entered into an arrangement agreement under which Switzerland-based Partners Group, on behalf of its clients, has agreed to indirectly acquire all of the outstanding common shares of Axia for a cash payment of $4.25 per share, representing total equity value, on a fully diluted basis, of approximately $272 million.The board of directors of Axia, (with an interested director abstaining), unanimously approved the arrangement agreement,...