ISS backs three of four dissident director candidates in Air Products fight

NEW YORK (Reuters) – Proxy advisory firm Institutional Shareholder Services on Monday recommended that Air Products and Chemicals investors elect three of activist investor Mantle Ridge’s four director candidates.

The recommendation comes days after another proxy advisory firm, Glass Lewis, said investors should elect all four of the dissident’s nominees at the January 23 annual meeting.

ISS backed Mantle Ridge’s founder Paul Hilal, Dennis Reilley and Andrew Evans.

(Reporting by Svea Herbst-Bayliss)