- 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)
Activist investors ratchet up spending in H1, Lazard study shows
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