Shareholder activism is on pace for a record year with over 260 campaigns and over 95 proxy fights thus far in 2019. So far this year, almost 40% of the campaigns have been targeted at companies whose market cap is greater than $10 billion. To date, only 19.4% of this year’s proxy contests have gone all the way to a shareholder vote. When the fights have gone the distance, boards have prevailed in 72.2% of the votes.
On Monday, September 30, Kai Liekefett, co-chair of Sidley’s shareholder activism practice, was interviewed on Bloomberg. The segment is titled “Why More Companies are Fighting Back Against Activist Investors.”