Diversified industrial manufacturer Eaton Corporation (NYSE: ETN) today announced that all three leading independent proxy advisory firms-- Institutional Shareholder Services (ISS), Glass Lewis and Egan-Jones-- have recommended that Eaton Corporation shareholders vote in favor of adopting the transaction agreement in which Eaton will acquire Cooper Industries plc (NYSE: CBE) through the formation of a new holding company incorporated in Ireland, which will be renamed Eaton Corporation plc.
In recommending that the transaction be approved, ISS noted, “Given the sound strategic rationale and positive market reaction through the date of this analysis, a vote FOR the merger is warranted.”
“We are pleased that all three proxy advisory firms have acknowledged the merits of the transaction and have recommended that shareholders vote to approve the transaction agreement,” said Alexander M. Cutler, Eaton chairman and chief executive officer.
Eaton Corporation would like to remind shareholders to vote on the transaction agreement. It is the subject of a special meeting of Eaton Corporation shareholders in Eaton Center, located at 1111 Superior Avenue, Cleveland, Ohio on Friday, October 26, 2012 at 3 p.m. local time. Eaton Corporation shareholders of record at the close of business on September 13, 2012, whether or not they attend the meeting, are entitled and urged to vote at this special meeting.Eaton Corporation shareholders may vote their shares by completing, signing, dating and returning the proxy card; using the toll - free telephone number shown on the proxy card; or using the internet website shown on the proxy card. Shareholders that hold Eaton Corporation common stock through a bank or broker should follow the voting instructions provided by their bank or broker. Eaton Corporation shareholders who have questions about the transaction or other matters to be voted on at the special meeting, or would like additional copies of the proxy statement/prospectus or additional proxy cards, may contact Eaton Corporation’s proxy solicitors, The Proxy Advisory Group, LLC: 888.55.PROXY or Mackenzie Partners: (800) 322-2885.