ISS recommend Spectrum stockholders vote for Assertio transaction

Spectrum Pharmaceuticals (SPPI) announced that the leading independent proxy advisory firms, Institutional Shareholder Services, and Glass Lewis have each recommended that Spectrum stockholders vote “FOR” the proposal to adopt the Agreement and Plan of Merger at the upcoming special meeting of stockholders on July 27. Under the terms of the Merger Agreement, Assertio Holdings (ASRT) would acquire all outstanding shares of Spectrum in an all-stock and contingent value rights transaction. The upfront consideration represents a premium of 65% and the total potential consideration represents a premium of 94% to Spectrum’s closing price on April 24.