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Laxman Pai, Opalesque Asia: 922 companies were approached last year compared with 856 companies approached in 2017 by activist investors, says a study.
According to the Activist Investing Annual Review 2019, produced by Activist Insight in association with Schulte Roth & Zabel (SRZ), among 922 companies were publicly subjected to activist demands, more than 400 firms were outside the United States.
142 U.S. settlements were recorded in 2018, versus 119 in 2017 and 168 the year before, said the review.
In 2018, the number of demands pushing for M&A increased by 23% compared to 2017, while the number of demands opposing M&A increased 8% year-over-year.
"This past year we've seen an increase in M&A-related activism, with activists publicly going against acquisition offers and others encouraging public companies to put themselves up for sale. These strategies were particularly effective in 2018 and remain a big part of the current market," said Marc Weingarten, SRZ partner and co-chair of the firm's global Shareholder Activism Group.
"Another development is that we now see some public companies accepting activist investors as important shareholders, and those companies are taking increasing efforts to seriously consider, and often accommodate, the activists' suggestions," Klein added.
"Activism reached record levels in many markets during 2018, fueled by high deal volumes and a new wave of settlements," said Josh Black of Activist Insight, who serves as...................... To view our full article Click here
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