UPDATE 1-ISS says Icahn's Lear bid not high enough

Newswire

(Adds Lear comment and updates stock action, changes dateline from NEW YORK) CHICAGO, June 21 (Reuters) - Institutional Shareholder Services is recommending that Lear Corp. shareholders vote against Carl Icahn's $2.86 billion proposed takeover of the U.S. auto-parts maker because of its price, according to a copy of the report obtained on Thursday. ISS, an influential shareholder advisory company based in Rockville, Md., said $36 per share was fair but does not provide much of a premium ...

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