Fairview Capital Investment Management said late last week that it plans to vote against the sale of sneaker company Saucony to Stride Rite, according to apparel Web site just-style.com. Fairview, which owns a 2.6% stake in Saucony's outstanding shares, said the $23-per-share sale price is inadequate.

Fairview's opposition to the deal hinges on the fact that company shareholders will receive "zero control premium and none of the projected cost-savings synergies," the report said. The shareholder also cited Saucony's significant insider ownership and dual-class share structure as well as a lack of an independent committee in its strategic review.

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