Proxy Preview: Targets Eager To Settle To Avoid Proxy Wars
Law360, New York (March 19, 2014, 4:21 PM EDT) -- Companies targeted by activists are settling sooner and more often to avoid costly and distracting proxy fights, experts say, putting another feather in the caps of dissident investors who have built up substantial power in the marketplace over the past few years.
On the heels of a 2013 proxy season defined by more aggressive activists gunning for bigger targets, companies have already indicated they will take a softer stance this time around — especially as institutional shareholders grow increasingly open to activist proposals — threatening a potentially significant blow to a board and management team resisting calls for change.
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