Incitec Pivot Ltd T.IPL

RE:RE:Institutional Shareholder Services (ISS) weighs in

[marketsense]

If IPL's board were unbiased they would try and drive a harder bargain with PPL but it seems
they are already too cozy and comfortable with each other than to upset the relationship at this 
point.   This is like a marriage proposal with a pre nup agreement.  I suppose the wild card is
how shareholders will vote.   That is where the real infighting and competitive differences are 
being highlighted.    On that front it is disappointing.  As a shareholder,  I don't care which 
company takes IPL.   Its the price that I want for my shares that concerns me and I think the
IPL board has done a disservice to its shareholders in their bargaining approach.  They are 
selling the deal on the basis of PPL's strength rather than the value of IPL and Heartland.