PrivateBancorp, Inc. (NASDAQ:PVTB) [Trend Analysis] climbed reacts as active mover, shares an advance 4.28% to traded at $48.78 and the percentage gap among open changing to regular change was 1.00%. PrivateBancorp, Inc. (PVTB) reported that Glass Lewis and Egan-Jones, two independent proxy voting and corporate governance advisory firms, recommended the firm’s stockholders vote for the proposed acquisition of PrivateBancorp by Canadian Imperial Bank of Commerce (CM) at the special meeting planned for December 8, 2016.
James Guyette, Chairman of the Board of PrivateBancorp, commented on the recommendation from Institutional Shareholder Services: “We disagree with ISS’s recommendation. Notwithstanding the recent rally in bank stocks, we remain fully committed to this transaction which offers PrivateBancorp stockholders the certainty of a important cash payment, as well as the prospects to take part in the future growth and value creation of the combined firm.” The firm past