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BOSTON (Reuters) - Proxy adviser Institutional Shareholder Services (ISS) on Friday said Blucora Inc shareholders should vote for one of Ancora Holdings Inc’s four nominees for the Blucora board after the activist investor urged the company to explore strategic alternatives for the tax services business.
“The merits of the issues raised by the dissident lead to a conclusion that change is warranted, specifically in the form of direct shareholder representation in the boardroom,” ISS analysts wrote.
ISS urges shareholders to vote for Frederick DiSanto, who is chairman and CEO of Cleveland-based Ancora, arguing he is the only one of Ancora’s four proposed candidates who has experience serving on a public board.