Daniel Loeb may have won a contested endorsement in his bid to shake up the staid Sotheby’s (NYSE:BID) board of directors after launching a well-defined marketing campaign. Institutional Shareholder Services backs Loeb after Sotheby’s courted them The well-regarded proxy advisor Institutional Shareholder Services, utilized by small and mid-sized institutional investors, said on Thursday that it was backing the Loeb bid after being actively courted by Sotheby’s (NYSE:BID). “The dissidents have laid out a series of broad questions they believe the board is not, but should begin, taking up,” the ISS report said. “There is credible reason to believe their larger…
Loeb Wins Key Ally In Sotheby's Battle
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.