Glass Lewis, the proxy firm, announced that it is buying Washington Analysis Corporation (WAC), which provides early warning of US public policies affecting financial markets and specific companies, according to Global Proxy Watch.
The sale reunites two firms that were both owned by Xinhua Finance. The unhappy alliance led Xinhua Finance to sell off GL and is now selling off WAC. WAC does not sell research or serves to corporate, so GL says it will remain free of conflicts of interest.
According to Glass Lewis, GL is expected to see 2009 proxy reports with WAC analyses of political risk. As Obama’s administration takes hold, WAC’s analyses will become a rising factor.
GL rival, Institutional Shareholder Services is now part of RiskMetrics.