Despite factors that might have otherwise presented challenges for activists, shareholder activism in Canada proved resilient in 2025. The passing of a year marked by geopolitical and economic uncertainty – a trend which...more
Here’s an excerpt from an entry on “Cooley’s M&A Blog” penned by Jamie Leigh, Sean Brownridge, Bill Roegge, Kevin Cooper, Lucas Wherry and Simon Trisk about recent shareholder activism trends and what to expect this year:...more
The Baker Botts Dallas Board of Directors Forum brought together subject matter experts on significant and trending topics in the Debate Chamber at Old Parkland on February 10th, 2026. The key takeaways shared with board...more
Shareholder activism in the life sciences sector has intensified in recent years, with activist funds and other event-driven investors increasingly targeting companies to influence management, governance, strategy, and...more
A “short attack” is a campaign in which a short seller publishes a critical report about a target company in order to profit from the ensuing decline in the company’s share price....more
Activists enjoyed a banner year in 2025. From proxy contest wins at blue-chip companies to a partnership with Taylor Swift’s fiancé, engaged shareholders once again demonstrated their capabilities, creativity and readiness....more
Shareholder activism in the public real estate investment trust (REIT) sector has accelerated in recent years, with over 100 public campaigns and related engagements launched since 2020. As M&A markets regain momentum and...more
Activist campaigns have become an increasingly common strategy for investors seeking to unlock shareholder value. M&A and other transactional-focused strategies have been a top driver of activist activity, with 45 percent of...more
In the headlines today, it is common to see announcements about activist campaigns or activists taking equity positions in public companies. Nonetheless, full-scale proxy fights have become relatively rare. Most public...more
Activism didn’t pause in 2025 – it evolved. Campaign counts are up, tactics have multiplied, and boards are settling faster and earlier. As Goldman Sachs’ Neil Rudisill put it on Cooley’s Market Talks panel, “We’re on...more
Vejseli v. Duffy, C.A. No. 2025-0232-BWD (Del. Ch. May 21, 2025) - In this post-trial decision, the Court of Chancery determined that the board properly rejected the activists’ non-compliant director nomination notice,...more
Withhold campaigns are not new. However, according to Diligent Market Intelligence, 33 distinct activist withhold campaigns took place in the 12 months ended June 30, 2025, up from 23 in the same period of 2023–24 and 24...more
Recently, the frequency of stockholder demands to inspect corporate books and records pursuant to Section 220 of the Delaware General Corporation Law has increased. In turn, the case law concerning Section 220 demands is...more
Earlier this month, General Motors ("GM") won a decisive victory in a proxy contest waged by Greenlight Capital, the activist fund headed by David Einhorn. Greenlight claimed that GM's shares, which were trading at a price...more
You might recall that, on November 9, 2016, GAMCO Asset Management Inc. (an entity affiliated with activist investor Mario Gabelli) and certain affiliates used the proxy access bylaws recently adopted at National Fuel Gas...more
Under current law and practice, a shareholder of a public company that is asked to vote in a contested election of directors where a slate of directors had been proposed by the company and an activist investor would likely...more
This report offers an overview of the state of activism in Europe, as well as country-specific profiles for the United Kingdom, France, Germany, Italy and Switzerland, including information and commentary on noteworthy...more