Two institutional investor advisory services on Wednesday issued recommendations on whether Carl Icahn should win a contested seat on Motorola's board of directors--and their advice is mixed. Institutional Shareholder Services (ISS), which issues advice to roughly a third of Motorola's investors, is calling for shareholders to elect Icahn to Motorola's board.
Glass Lewis & Co., an institutional advisory service to pension funds and mutual funds, issued a recommendation that shareholders disregard Icahn's request for a board seat and, instead, side with the company's directors and their proposed slate of board members.
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