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Proxy Adviser ISS Recommends Mylan Shareholders Vote Against Perrigo Deal

Institutional Shareholder Services, an influential shareholder-vote adviser, recommends that Mylan NV investors vote against authorizing the company’s $36 billion takeover of Perrigo Co. PRGO 3.46 % , saying the deal faces too many hurdles.

The ISS report, issued Friday to the firm’s clients, cited “unreasonable uncertainties,” including that Dublin-based Perrigo’s shareholders may reject the offer. The cash-and-stock bid, which...


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