Milner urges shareholders to disregard ISS report, vote against Abcam deal

Jonathan Milner, who identifies himself as the founder and one of the largest shareholders in Abcam plc (ABCM) with ownership of 6.16% of the company, issued the following statement in response to a report from Institutional Shareholder Service, or ISS: “I unequivocally oppose the conclusions drawn in the ISS report and its subsequent recommendation. I believe that Danaher’s $24 per share offer is a stark undervaluation of Abcam’s true worth. Accepting $24 per share, devoid of a strategic premium, is the wrong price at the wrong time, a move that blatantly overlooks Abcam’s intrinsic value… It’s important to highlight the real shareholder value that my advocacy has unlocked. While the ISS report itself acknowledges the positive impact, let’s not overlook the facts: the share price soared from roughly $16 to over $20, a significant 25% rise, in the wake of my campaign being made public. I believe that voting against the transaction would be a far better outcome for shareholders, returning the company to the position it previously held as a premium-rated life sciences company with a long track record of impeccable execution and an absolute focus on shareholder value.”