Activism At Large Cap Companies

In less than two weeks, shareholders will have their say on the proxy contest between Trian Partners and Procter & Gamble. As the largest company by market cap to face a proxy contest in history, many expect Procter & Gamble to put up a stiff fight.

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Activist Insight data suggests that activist investors targeting U.S. large cap companies ($10bn+) have continued to have success in recent years, despite reports of tension between institutional investors and activists. The number of directors placed at large cap companies has declined slightly from a peak in 2014, but remained at elevated levels.

In addition, Nelson Peltz’s request for a single board seat is below the average of 4.5. In settlements at large cap companies, an average of 2.3 directors were seated at the activist’s behest, and only 2 of 7 proxy contests that went to a vote resulted in seats for the activist, according to Activist Insight data.

Seth Klarman’s Collective Wisdom: Risk Analysis Is The Key To Investment Success

Please note this article is based on publicly available information, however ValueWalk just received Baupost's 2018 letter moments ago and will have exclusive coverage shortly. Seth Klarman is widely regarded as one of the best value investors the world has ever seen. Over the past few decades, his hedge fund, the Boston-based Baupost, has achieved Read More

For a fact sheet on activism at large cap companies, click here.

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Kind regards,

Josh Black

Article by Activist Insight