Exact(12)
Its biggest institutional shareholder, Invesco, has, Harpin says, been buying in the past few months.
But now, at least one big institutional shareholder wants to see the unit sold.
"I never thought he was a really credible bidder," one institutional shareholder said of Mr. Kerkorian.
One longtime institutional shareholder explained why investors were willing to accept the separate cable purchases.
The Ontario Teachers' Pension Fund, another institutional shareholder, said it would also support the bid.
According to one institutional shareholder, the additional systems helped Adelphia obtain bulk discounts on equipment.
Similar(41)
It also gained support from Institutional Shareholder Services (ISS), a consultancy that advises many institutional investors.
On Wednesday, Institutional Shareholder Services, an influential adviser to large institutional investors, came out against Mr. Heyman in favor of management.
Two influential proxy advisers -- Institutional Shareholder Services Inc. and Glass, Lewis & Co. -- encouraged institutional investor clients to do the same.
Last year, both Institutional Shareholder Services and Glass Lewis recommended that shareholders vote against the three.
However, Institutional Shareholder Services, a consultancy that advises about 20% of WPP's shareholders, advised investors to back WPP.
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