Proxy Advisory Firm Gives Strong Boost To Ackman’s CP War

Institutional Shareholders Services, ISS,  has published a report today backing the Bill Ackman led proxy war at Canadian Pacific Railway Limited (NYSE:CP). The battle has been going on for months now and Ackman's Pershing Square Capital Management attempt to change the board has gained much infamy in the investing community.

Pershing Square owns 14.2% of Canadian Pacific and is using that, along with Ackman's powerful persona, to lead a drive to oust the current CEO and many of the company's board members. Ackman has prepared a list of seven alternative directors for the company....