Institutional Shareholder Services and Glass Lewis, two leading advisors on shareholder votes, backed the $27.50 cash offer of the founding Feldenkreis family as they are set to vote on the transaction Oct. 18. ISS said the certainty of the Feldenkreis offer and steps the board took to maximize value weighed in favor of the offer. Glass Lewis said the offer was reasonably consistent with other offers for similar companies and the board took steps to eliminate conflicts of interest. While not exactly full-throated endorsements, PERY said it was pleased with the backing.

Meanwhile, a shareholder suit has been filed against ... Log in to view full article.