Done Deal – Insights from our M&A and Activism team – October 2023
Insights from our M&A and Activism team
Shareholder activism continues to evolve, marked by the emergence of new players, complex M&A activism, operational improvements, and growing polarisation of ESG views from investors. In this month’s Done Deal newsletter, our global team discusses key trends and potential challenges for companies to monitor going into 2024 in a brief video. We also explore strategies for Technology companies to mitigate activism risk and hear from our newest team member, governance expert Andrea Hearon in New York.
In Conversation with our global Activism team
We hear from Pat Tucker, Val Mack, Alex Le May and Anya Bailey on major activism trends that we are monitoring going into 2024, as well as potential blind spots boards could miss as they prepare.
Perspectives on Tech sector activism going into 2024
With a slow M&A market in 2023, activists focused on operational improvements and cost cutting, especially in the tech sector. As M&A activity comes back, tech companies still need to be prepared for pressure from activists on operational improvements. Garrett Muzikowski partners with Business Transformation expert and Technology specialist, Harvind Raman, to discuss this in their most recent article.
What We’re Up To
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AUGUST 2023 Advising Abcam on its contested $5.7bn sale to Danaher | SEPTEMBER 2023 Advising on Cinven’s €2.2bn public acquisition offer for Synlab AG | SEPTEMBER 2023 Advising Renewi on its £636m approach by Macquarie Asset Management |
Meet our Team: 30 seconds with Andrea Hearon
What is your focus area at FTI Consulting?
I focus on advising clients on governance and shareholder activism issues, with a specialization in shareholder proposals and ESG activism. Prior to joining FTI in August, I worked at Institutional Shareholder Services (ISS), where I advised socially responsible investment (SRI) funds in developing and implementing their voting proxy voting guidelines. I now am able to use this experience to help best prepare clients for investor engagement by leveraging my understanding of these investors’ expectations and approaches to key topics.
What M&A trends are you seeing in your marketplace?
With the July 2023 SEC Cyber security rules newly adopted, which standardizes and enhances disclosure relating to a corporation’s cyber threats, I expect to see increased activist attention on corporations and investors assessing whether they have thorough risk management processes in place. Investors will want to see an evaluation of a corporation’s exposure to these risks, as well as the ability to manage and mitigate them once an attack occurs. Solid oversight structure, scenario planning, preparedness exercises, and understanding of vulnerabilities will be necessary for the board’s success in navigating these issues. I will also be following closely to see if more shareholder proposals are filed on cybersecurity topics.
Contact Us
To be added to the distribution list for FTI Consulting’s M&A and Activism Insights, or for further information on the dedicated M&A and Activism team at FTI Consulting, please contact Edward Bridges ([email protected]) Pat Tucker ([email protected]) or Alex Le May ([email protected]).
| The views expressed in this article are those of the author(s) and not necessarily the views of FTI Consulting, its management, its subsidiaries, its affiliates, or its other professionals. ©2023 FTI Consulting, Inc. All rights reserved. www.fticonsulting.com |
