Velodyne announces Glass, Lewis, & Co recommends stockholders vote ‘FOR’ merger

Velodyne Lidar (VLDR) announced that independent proxy advisory firm Glass, Lewis & Co. has recommended that shareholders vote "FOR" the proposed merger with Ouster (OUST) at the Company’s upcoming Special Meeting of Stockholders, scheduled for January 26, 2023. "The combination of Ouster and Velodyne is expected to unlock enormous synergies, creating a company with the scale and resources to deliver stronger solutions for customers and society, while accelerating time to profitability and enhancing value for shareholders," said Dr. Ted Tewksbury, CEO and member of Velodyne’s Board of Directors. Dr. Tewksbury will serve as Executive Chairman of the combined company upon the successful completion of the proposed merger. "The merger is a transformational transaction that the Board believes best positions the company to generate long-term value for all stockholders," continued Dr. Tewksbury. "Velodyne is pleased that Glass Lewis shares the belief that the proposed merger with Ouster is in the best interests of Velodyne’s stockholders and supports the Board’s unanimous recommendation that shareholders vote "FOR" the transaction."