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The Two Leading Proxy Advisory Firms Unanimously Recommend Shareholders Vote Against the Calfrac Management Transaction
The Two Leading Proxy Advisory Firms Unanimously Recommend Shareholders Vote Against the C...
About this update from Calfrac Well Services Ltd.
[{"type":"text","content":"\n\n\n\nThe Two Leading Proxy Advisory Firms Unanimously Recommend Shareholders Vote Against the Calfrac Management Transaction\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen3{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnbcc{\nBORDER-TOP:0pt solid; BORDER-RIGHT:0pt solid; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:0pt solid; BORDER-LEFT:0pt solid\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCISCO, Texas, Sept. 11, 2020\n\n\n\nGlass Lewis reverses their original recommendation and now both Glass Lewis and ISS recommend that Shareholders vote AGAINST the Management Transaction. When viewed alongside the significant sell-side analysts' support of Wilks' Superior Alternative Proposal, it is clear that the market recognises that Calfrac Shareholders will not benefit from the insider-led Management Transaction. The proxy deadline for the BLUE proxy is September 14, 2020 at 5pm MST. Get the FACTS at www.afaircalfrac.com. CISCO, Texas, Sept. 11, 2020 /CNW/ - Wilks Brothers, LLC (\"Wilks\") is pleased to announce that proxy advisory firm Glass Lewis & Co. (\"Glass Lewis\") has today reversed its original voting recommendation and now recommends, that Shareholders of Calfrac Well Services Ltd. (\"Calfrac\") (TSX: CFW)  vote AGAINST Calfrac's Recapitalization Transaction (the \"Management Transaction\") at the special meeting of Shareholders to be held on September 17, 2020 (the \"Meeting\").\n\n \n \n \n \n \n \n\n \nGlass Lewis makes the following compelling points, considering both the Wilks \"Superior Alternative Proposal\" and the Wilks' premium take-over bid which was launched on September 9, 2020 (the \"Premium Offer\") in contrast to the conflict-ridden Management Transaction, in recommending that Shareholders no...