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Toshiba Machine's takeover defense backed by US proxy adviser

Institutional Shareholder Services sides against Murakami-linked fund

Toshiba Machine aims to win approval for a take-over defense measure at a shareholders meeting on March 27.

TOKYO -- U.S. proxy advisory firm Institutional Shareholder Services is endorsing Toshiba Machine's defense measure against a hostile takeover bid, Nikkei has learned, a move that will likely influence voting decisions by the industrial tool maker's institutional stockholders.

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