Activists had made 55 public demands relating to deals between January 1 and March 26, which puts them on course to top last year’s total, Activist Insight has found.
[timeless]
Shareholders are finding their voice backing deals at close to peak levels, according to Activist Insight data. Just under 82% of public M&A-related demands made by activists worldwide since the start of 2018 favored a transaction, while just over 18% opposed deals.
That is the starkest split since 2014, when 85% of public M&A-related demands were pro-deal.
U.S. activism is consistently more pro-deal than Europe, where 2018 could be the first year a majority of activist demands have been pro-deal since 2014.
Elliott Management, which this week unveiled a stake in Travelport Worldwide and hinted that it could be a buyer for the company, is the leading M&A activist in the world according to Activist Insight data, having publicly subjected 41 companies worldwide to M&A-related activist demands since 2013. It is willing to take either side, with a 60/40 split in favor of pro-M&A demands.
Number of M&A-related public demands made globally pushing for/ opposing deals.
Proportion of M&A-related public demands at U.S.-headquartered companies pushing for/ opposing deals.
Proportion of M&A-related public demands at Europe-headquartered companies pushing for/ opposing deals.
Note: M&A demands include Oppose Acquisition of Third Party, Oppose Merger, Oppose Takeover Terms, Oppose Terms of Merger, Push For Acquisition of Third Party, Push for Company Division, Push For Merger of Company With Third Party, Push For Sale of Company to Third Party, Spin-Off/Sale of Business Division, Takeover Company.
For any questions about the data, or if you have a follow-up request, please contact Josh Black at jblack@activistinsight.com. Please note that bespoke data requests may take 24-48 hours depending on the amount of manual work required.
We look forward to assisting you with your articles.
Kind regards,
Josh Black
About Activist Insight
Since 2012, Activist Insight (www.activistinsight.com) has provided its diverse range of clients with the most comprehensive information on activist investing worldwide. Regularly quoted in the financial press, Activist Insight is the trusted source for data in this evolving space. Activist Insight offers five industry-leading products: Activist Insight Online, Activist Insight Shorts, Activist Insight Governance, Activist Insight Vulnerability – a tool for identifying potential activist targets – and Activist Insight Monthly – the world’s only magazine dedicated to activist investing.
