ISS Backs Crusader Elliott In Hess Board Fight

Law360, New York (May 3, 2013, 5:24 PM EDT) -- Institutional Shareholder Services Inc., the influential proxy advisory firm, on Thursday backed Elliott Management Corp.'s bid to take control of Hess Corp., a big win for the activist ahead of the company's annual meeting in two weeks.

ISS joins Glass Lewis, the other large shareholder adviser, in recommending all five of Elliott's nominees for the company's 14-member board. The two firms are rarely united in endorsing a full slate of dissidents, and when it has happened — the most recent notable example is Canadian Pacific Railway...
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