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Leading Proxy Advisors, ISS and Glass Lewis Recommend that Loblaw Shareholders Vote FOR Loblaw's Spin-Out of Choice Properties REIT
Leading Proxy Advisors, ISS and Glass Lewis Recommend that Loblaw Shareholders Vote FOR Lo...
About this update from George Weston Limited
[{"type":"text","content":"\n\n\n\nLeading Proxy Advisors, ISS and Glass Lewis Recommend that Loblaw Shareholders Vote FOR Loblaw's Spin-Out of Choice Properties REIT\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Oct. 4, 2018\n\n\n\nLoblaw shareholders are reminded to vote on the arrangement before 4:00 p.m. (Toronto time) on October 15, 2018\n TORONTO, Oct. 4, 2018 /CNW/ - Loblaw Companies Limited (TSX: L, \"Loblaw\") and George Weston Limited (TSX: WN, \"GWL\") are pleased to announce that Institutional Shareholder Services Inc. (\"ISS\") and Glass Lewis & Co. (\"Glass Lewis\"), two leading independent proxy advisory firms, have recommended that Loblaw shareholders vote FOR the plan of arrangement (the \"Arrangement\") under which Loblaw will spin out its approximate 61.6% effective interest in Choice Properties Real Estate Investment Trust (TSX:CHP.UN, \"Choice REIT\"). Loblaw shareholders will be asked to approve the Arrangement at the special meeting of shareholders to be held on Thursday, October 18, 2018 at 11:00 a.m. (Toronto time) at the Metro Toronto Convention Centre, Meeting Room 714AB, South Building, 222 Bremner Boulevard, Toronto, Ontario.\nISS and Glass Lewis are recognized as leading independent proxy and corporate governance advisory firms whose recommendations are relied upon by many major institutional investment firms, mutual and pension funds and other institutional shareholders.   \nIncluded in the rationale for supporting the arrangement, ISS noted:\n\"The transaction makes strategic sense as it simplifies Loblaw as a pure-play retailer by spinning out a non-strategic business and allows Loblaw to focus on pursuing its core retail, connected healthcare, digital retail and payments and rewards strategy. Furthermore, the transaction may unlock value creation for Loblaw shareholders and offers shareholders a path to a higher overall dividend. Additionally, Loblaw shareholders will be able to benefit from any upside in Choice REIT through their holdings in GWL shares, which could also experience furthe...