Proxy firms Glass Lewis and ISS back Allergan in fight against Appaloosa – Investing.com

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© Reuters. Proxy firms Glass Lewis and ISS back Allergan in fight against Appaloosa

(Reuters) – Allergan (NYSE:) Plc said on Monday that proxy advisory firms Institutional Shareholder Services Inc and Glass Lewis & Co had urged its shareholders to vote against hedge fund Appaloosa Plc’s proposal to immediately separate the drugmaker’s chief executive officer and chairman roles.

Appaloosa, led by billionaire David Tepper, has been pressing Allergan since last year to separate the two roles.

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