Garda World Security says its proposed $1.1-billion privatization transaction has received supportive nods from proxy advisory firms ISS Proxy Advisory Services and Glass Lewis & Co. The firms have recommended their clients vote at the Oct. 24 ratification vote in favour of the $12 per share cash offer from a consortium involving Garda founder Stephan Cretier and a subsidiary of private equity firm Apax Partners. The offer price is a 30 per cent premium over the closing price of Garda's shares on Sept. 6, the trading date prior to the announcement of the transaction.
