ISS recommends against Instructure's proposed sale to Thoma Bravo: note

BOSTON (Reuters) – Proxy advisory firm Institutional Shareholder Services Inc. (ISS) recommends that Instructure (N:) shareholders vote against the company’s planned sale to private equity firm Thoma Bravo, ISS said in a note on Monday .

“Given legitimate concerns regarding the conduct of the process, a seemingly uncompelling valuation, and a strong standalone case, a vote AGAINST the transaction is warranted under the proposed terms,” the ISS note said. A copy was seen by Reuters on Monday.

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