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INDIANAPOLIS - On the heels of a favorable recommendation by Institutional Shareholder Services (ISS) that shareholders of Marsh Supermarkets vote "yes" to the merger with MSH Supermarkets Holding Corp., another independent proxy advisory firm seconded the endorsement.
Glass Lewis & Co.'s recommendation is consistent with that of ISS, which recently recommended that Marsh shareholders vote in favor of the MSH Supermarkets merger, the vote for which is expected to take place this Friday at a shareholders special meeting.
Marsh and MSH Supermarkets completed a definitive merger agreement in May, under which MSH would acquire all of Marsh's stocks for $11.12 per share. If shareholders vote in favor of the deal, the transaction is expected to close promptly after the special meeting.
Marsh operates 68 Marsh supermarkets, 38 LoBill Foods, eight O'Malia Food Markets, 154 Village Pantry convenience stores and two Arthur's Fresh Market stores in Indiana and western Ohio. The company also operates Crystal Food Services, Primo Banquet Catering and Conference Centers, Floral Fashions, and McNamara Florist.