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Institutional Investor (March 25)

2022/ 03/ 26 by jd in Global News

“Activist approaches may gain ground as investors get pragmatic about fossil fuel companies. Asset managers like Engine No. 1 argue that holding companies accountable for net-zero goals is a better route to change than divesting.” Its new ETF will target companies with “plans and products in place to handle the changing climate and the dwindling supply of natural resources. This also means that the portfolio will end up invested in some of the most polluting companies, including General Motors, Ford, Canadian Pacific Railway, and Deere.”

 

CNBC (October 28)

2021/ 10/ 30 by jd in Global News

In what may prove a seminal for Big Oil, activist Dan Loeb is “calling for the breakup of Royal Dutch Shell into a legacy oil and gas company and separate business for renewable energy.” The activists battle with Shell lies “at the heart of how an energy giant of the future shapes its business model during the energy transition and balances higher return fossil fuel projects with clean energy investment.”

 

Bloomberg (June 15)

2021/ 06/ 17 by jd in Global News

“If Toshiba Corp. tried to bully hedge funds through the government, that’s a bad look all around. The only parties who come off well are the activists the company allegedly aimed to suppress…. In the end, it looks like activist hedge funds aren’t so big and bad after all. They’re doing what they’re supposed to do. Now it’s open season for Japan Inc.”

 

Financial Times (December 2)

2019/ 12/ 04 by jd in Global News

“Investors are becoming increasingly concerned about how climate risks will impact their portfolios.” TCI, one activist hedge fund, “has warned Airbus, Moody’s, Charter Communications and other companies to improve their pollution disclosure or it will vote against their directors and called for asset owners to fire fund managers that did not insist on climate transparency.”

 

Pensions & Investments (March 22)

2019/ 03/ 23 by jd in Global News

“For decades, South Korea’s most powerful tycoons ran their companies with little regard for minority shareholders. Then came Paul Singer. The hedge fund titan’s activist campaigns…have trained a spotlight on the corporate governance failures and complex ownership structures that saddle South Korean stocks with some of the world’s lowest valuations.” His defeat at Hyundai Motor “is unlikely to derail the nascent shift toward more accountability at the business groups that dominate Asia’s fourth-largest economy.”

 

CNN (October 8)

2018/ 10/ 10 by jd in Global News

“Wall Street’s top activist investors are raising lots of cash and gearing up for battle over the next year…. The group see more opportunity to disrupt the consumer discretionary sector, which includes retailers, than in any other industry.”

 

Institutional Investor (April 19)

2018/ 04/ 21 by jd in Global News

“Targeted by an activist hedge fund? Try calling in the influencers.  A new study of institutional investor relationships found that how shareholders vote—and if they vote—is deeply impacted by who they know. Among major investors, networks move markets.”

 

The Economist (June 17)

2017/ 06/ 18 by jd in Global News

Replacing Jeff Immelt at GE’s helm, new CEO John Flannery will need “to deal with GE’s soggy financial performance. Trian, an activist hedge fund, owns a stake in GE and, behind the scenes, has probably been agitating for change. Unless the numbers improve soon, pressure may mount for GE to break itself up. That would be a bad idea: what it now needs is less re-engineering and more consistent execution. At least Mr Flannery, unlike Mr Immelt, takes the helm when expectations are low.”

 

Wall Street Journal (May 17)

2017/ 05/ 19 by jd in Global News

“Activist investors, a perennial nuisance for chief executives, are becoming an existential threat. Since January, they have helped push out the leaders of three high-profile S&P 500 companies” (AIG, CSX Corp. and Arconic Inc.). Moreover, “they are gunning for the CEOs at other companies,” such as Buffalo Wild Wings Inc. and Avon Products Inc. “So far in 2017, activists have started nine campaigns targeting top management, the fastest pace on record.”

 

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