Activists Return To (O) Canada

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.

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Q1 hedge fund letters, conference, scoops etc

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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

Activists Return Canada

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

Activists Return Canada

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

Activists Return Canada

*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).

Activists Return Canada

For any questions about the data, or if you have a follow-up request, please contact Josh Black at jblack@activistinsight.com. Please note that bespoke data requests may take 24-48 hours depending on the amount of manual work required.

We look forward to assisting you with your articles.

Kind regards,

Josh Black

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.



About the Author

ActivistInsight
Since 2012, Activist Insight has provided its diverse range of clients with the most comprehensive information on activist investing worldwide. Founded by Nick Arnott and Kerry Pogue with the objective of providing unmatched intelligence to professionals in the global activist investment space, Activist Insight made its entry into the market with online information product, Activist Insight Online. Activist Insight Monthly, the world’s only monthly magazine dedicated to shareholder activism, soon followed, granting its readership access to the thoughts and opinions of key industry professionals, while providing an editorial vehicle for the data trends uniquely aggregated from Activist Insight Online. In 2013, Activist Insight’s sister business, Proxy Insight, was co-founded by Nick Dawson and Nick Arnott.