Activist shareholders are back on the offensive

Activist shareholders have never been so offensive.

These funds take a minimal share of the capital of groups they consider undervalued and try to influence its strategy.

They usually start by criticizing governance, and in particular the CEO.

After keeping a low profile for much of 2020, activist shareholders returned to campaigning later this year.

This trend is growing to reach unprecedented levels.

“The return to historic highs is confirmed with a clear increase in Europe.

There are an average of 16 campaigns per quarter over the last few months, against around 13 in 2019, ”

notes Rich Thomas, managing director at Lazard.

Companies that have not been able to adapt their business model to the current transition and its consequences are the most targeted. ”

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Bertille Bayart: "The symbol Emmanuel Faber, ousted from Danone"

Activists demand rapid change.

"This requires a multiplication of the departures of leaders, who no longer have the benefit of the doubt, or a renewal

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