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The make up of activist targets has changed only slightly in recent years.
Mr. Loeb has a reputation for writing caustic letters to his activist targets.
On the contrary, there are tangible improvements in activist targets in the long run following the completion of the divestitures.
Long-term returns are insignificantly differently from zero, and fewer than half of all activist targets experience positive long-term returns.
Activist targets tend to be larger, on average, in France than in other countries, perhaps because they are more likely to be susceptible to international pressure.
This kind of preemptive scenario analysis should center on the specific fundamental profile of the company and highlight any parallels to traditional activist targets.
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We find that both proxies strongly predict activist targeting.
This can reduce the chance of being an activist target and strengthen credibility with the company's shareholders.
A shareholder activist targeting a large-cap company with deep pockets used to be a one-off event that would dominate headlines for months.
Mutual funds, however, do not support a dissident's slate of directors when the dissident has been a "frequent" activist targeting many companies in the past, but tend to support those activists whose targeting signals a high commitment in the past (e.g., seeking board representation).
While the current trading price of $53-54 per unit is still below the activist target of $60 per unit isdicated during the proxy contestillhe REIT has made significant headway in terms of performance.
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