Pzena Investment Management LLC, one of Lear Corp.’s biggest stockholders, says it will vote against billionaire investor Carl Icahn’s sweetened takeover offer of about $3 billion. Pzena says Lear is worth $55 to $60 per share, well above the latest bid of $37.25 per share offered by Icahn’s American Real Estate Partners LP investment firm. Influential advisory firm Institutional Shareholder Services also has recommended that Lear shareholders vote against the Icahn offer. Appaloosa ...
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