The Globe and Mail reports in its Tuesday, Nov. 3, edition that proxy adviser Glass Lewis & Co. on Monday joined its chief rival, Institutional Shareholder Services, in recommending H & R REIT investors vote against the $3.4-billion acquisition led by GO Residential REIT. The Globe's Jameson Berkow writes that ISS issued its own recommendation last week. Glass Lewis said in its report: "The GO transaction should be seen as a firm non-starter for unaffiliated H & R investors. The overriding impression here is negative." Glass Lewis pointedly criticized H & R's sale process for having "scuppered basic guardrails, with a largely passive board effectively permitting an interested party to govern critical procedural elements without any effort to sense check then-current interest among other credible and capable counterparties. ... Unaffiliated investors have thus been offered exceptionally limited cause to conclude the current terms clearly and convincingly approximate the greatest value and most attractive alternative available to H & R investors at this juncture." Two-thirds of votes at the special shareholder meeting on Nov. 13 must approve the proposal for the deal to proceed.