Investment manager Russell Investments’ proxy guidelines lay out that the manager will “vote for proposals to restore, or provide shareholders with, rights of appraisal[.]” This, despite the same guidelines setting out a general rule that Russell will vote for mergers themselves if Glass Lewis suggests a “for” vote, except for case by case instances. This is contrast to certain other investment managers who maintain a “case-by-case” view on all mergers. Still, Russell Investments, like other major investment funds, endorses appraisal rights by supporting proposals to restore or provide such rights.
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