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Activist investors ratchet up spending in H1, Lazard study shows

Jul. 13, 2018 1:08 PM ETXerox Holdings Corporation (XRX) StockXRX, NWL, PFBy: Liz Kiesche, SA News Editor8 Comments
  • Activist investors spent $40B targeting 136 companies that had market caps over $500M in H1, the most since Lazard starting tracking such data in 2013, the Wall Street Journal reports.
  • During the first half of the year, activists were able to gain 119 board seats, up 75% from the same period last year, according to the Lazard study.
  • And companies are more likely to come to an agreement with activists so they can avoid lengthy and expensive proxy fights. About 85% of the board seats won this year were through settlements.
  • High-profile activist targets include Xerox (NYSE:XRX), Newell Brands (NASDAQ:NWL), and Pinnacle Foods (NYSE:PF).
  • Previously: Pinnacle Foods up 7.5% as Jana discloses stake, urges sale (April 19)

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