Drawn by basic materials, activists made demands at the most Canada-headquartered companies in six years during the first quarter, according to Activist Insight data.
Q1 hedge fund letters, conference, scoops etc
In the first three months of 2018, 32 Canada-headquartered companies were publicly subjected to demands by activist investors, the highest on record since 2013 and a 78% rise on the same period in 2017. The second-highest start to a year was Q1 2016, when 29 companies faced public demands.
Number of Canada-headquartered companies publicly subjected to activist demands
As might be expected for the resource-rich economy, basic materials proved the most active sector with 12 companies publicly subjected to activist demands. Yet all sectors except technology outstripped activity in the first quarter of 2017.
Number of Canada-headquartered companies publicly subjected to activist demands by sector
Nor was activity limited to smaller Canadian companies, with eight valued at more than US$10 billion – four times as many as in 2017 and just one behind 2016’s peak.
Number of Canada-headquartered companies publicly subjected to activist demands by market cap
*All market caps shown are in US$.
Even so, activity still has some way to go before topping full-year 2015’s record haul of 69 companies publicly subjected to activist demands.
Bonus data: Top activists by number of Canada-headquartered companies publicly subjected to activist demands (2013-Q1 2018).
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About Activist Insight
Since 2012, Activist Insight (www.activistinsight.com) has provided its diverse range of clients with the most comprehensive information on activist investing worldwide. Regularly quoted in the financial press, Activist Insight is the trusted source for data in this evolving space. Activist Insight offers five industry-leading products: Activist Insight Online, Activist Insight Shorts, Activist Insight Governance, Activist Insight Vulnerability – a tool for identifying potential activist targets – and Activist Insight Monthly – the world's only magazine dedicated to activist investing.
