Ontario pension buys proxy advisory firm, Glass Lewis, for $46M

October 8, 2007 | Matt Marshall

The Ontario Teachers’ Pension Plan said it will acquire San Francisco-based proxy advisory firm Glass, Lewis from Xinhua Finance for $46 million.

That’s about the $45 million that the Chinese company paid for the company last year.

But the WSJ reports that ownership of the firm by an activist institutional investor such as the Ontario pension plan may raise questions about bias. Story here.

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Tags: deal, ontario teachers pension plan

About the Author, Matt Marshall

Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.