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Preparing for Shareholder Activism: What You Need to Be Doing Now 2018

Released on: Nov. 24, 2018
Running Time: 04:01:32

Hedge fund activism has become a ubiquitous feature of the corporate landscape, affecting public companies of all sizes. As the phenomenon has become more commonplace, it has also become more diverse, and the means of addressing it and being prepared for it have evolved. Learn about the current state of hedge fund activism and best practices for preparing for and engaging with activists. 

Lecture Topics [Total time 04:01:32]

Segments with an asterisk (*) are available only with the purchase of the entire program.

  • Opening Remarks and Introduction* [00:01:58]
    Edward J. Lee, Eric L. Schiele
  • The Current State of Hedge Fund Activism and Activist Theses [00:57:54]
    Hon. Robert J. Jackson, Jr., Jim Rossman, Brian L. Schorr
  • Maximizing Leverage in an Activist Situation: Responding to and Resolving Activist Campaigns [01:00:38]
    Sabastian V. Niles, Meaghan Repko, Amy Lissauer
  • The Rise of Passive Investing: How Passive Index Funds Have Fundamentally Reshaped Public Markets and the Activist Playbook [01:00:07]
    Jessica McDougall, Meredith L. Cole, CFA, Keith Hallam
  • Deal Activism: How Dealmakers Can Prepare For and Respond to Activist Campaigns Against M&A Transactions [01:00:55]
    Audra D. Cohen, Aneliya S. Crawford, Robert A. Kindler

The purchase price of this Web Program includes the following articles from the Course Handbook available online:

  • COMPLETE COURSE HANDBOOK
  • Review of Shareholder Activism—1H 2018
    James E. Rossman
  • Review and Analysis of 2017 U.S. Shareholder Activism (March 26, 2018)
    Audra D. Cohen
  • The Activist Investing Annual Review 2018
    Aneliya S. Crawford
  • Lessons Learned from Trian’s Campaign at Procter & Gamble (March 23, 2018)
    Brandon S. Gold, Daniel A. Goldstein, Aneliya S. Crawford
  • SEC Speech: Chairman Jay Clayton, Opening Remarks to SEC-NYU Dialogue on Securities Markets #4: Shareholder Engagement, New York, NY (January 19, 2018)
    Edward J. Lee
  • Kirkland & Ellis, Kirkland M&A Update, Shareholder Activism—Evolving Tactics (August 9, 2018)
    Shaun J. Mathew, Daniel E. Wolf
  • Kirkland & Ellis, Kirkland M&A Update, Advance Notice Bylaws—Advantage Confirmed (April 16, 2018)
    Shaun J. Mathew, Daniel E. Wolf
  • Kirkland & Ellis, Kirkland M&A Update, Advance Notice Bylaw Deadlines—A Warning Shot (May 16, 2018)
    Shaun J. Mathew, Daniel E. Wolf
  • Takeover Response Checklist; Dealing with Activist Hedge Funds; Shareholder Engagement: Succeeding in the New Corporate Governance Paradigm (April 2018)
    Karessa L. Cain, Sabastian V. Niles, Steven A. Rosenblum, Martin Lipton
  • Some Thoughts for Boards of Directors in 2018 (November 30, 2017)
    Sabastian V. Niles, Vishal Chanani, Kathleen C. Iannone, Karessa L. Cain, Steven A. Rosenblum, Martin Lipton
  • Larry Fink’s Annual Letter to CEOs
    Jessica McDougall
  • Proxy Voting Guidelines for U.S. Securities (February 2018)
    Jessica McDougall
  • BlackRock Investment Stewardship Engagement Priorities for 2018 (March 2018)
    Jessica McDougall

Presentation Material

  • Discussion Materials
    Hon. Robert J. Jackson, Jr., Shaun J. Mathew, Jim Rossman, Brian L. Schorr
  • Board Ready: Shareholder Activism, Corporate Governance and the Hunt for Long-Term Value Handout
    Sabastian V. Niles
  • Maximizing Leverage in an Activist Situation: Responding to and Resolving Activist Campaigns
    Amy Lissauer, Sabastian V. Niles, Meaghan Repko
  • T. Rowe Price: Perspectives on T.Rowe's Public Stance on Shareholder Activism Handout
    Sabastian V. Niles
  • Activist Hedge Fund Overreach in Sale Process Handout
    Sabastian V. Niles
  • Activism: The State of Play Handout
    Sabastian V. Niles
  • Deal Activism: How Dealmakers Can Prepare For and Respond to Activist Campaigns Against M&A Transactions
    Audra D. Cohen, Aneliya S. Crawford, Robert A. Kindler
Co-Chair(s)
Edward J. Lee ~ Wachtell, Lipton, Rosen & Katz
Eric L. Schiele ~ Kirkland & Ellis LLP
Speaker(s)
Audra D. Cohen ~ Sullivan & Cromwell LLP
Meredith L. Cole, CFA ~ Founding Manager Director, Innisfree M&A Incorporated
Aneliya S. Crawford ~ Schulte Roth & Zabel LLP
Keith Hallam ~ Cravath Swaine & Moore LLP
Hon. Robert J. Jackson, Jr. ~ Commissioner, U.S. Securities and Exchange Commission
Robert A. Kindler ~ Vice Chairman, Global Head of Mergers & Acquisitions, Morgan Stanley
Amy Lissauer ~ Managing Director, Evercore
Jessica McDougall ~ Associate, Investment Stewardship, BlackRock
Sabastian V. Niles ~ Wachtell Lipton Rosen & Katz
Meaghan Repko ~ Partner, Joele Frank, Wilkinson Brimmer Katcher
Jim Rossman ~ Managing Director, Head of Shareholder Advisory, Lazard
Brian L. Schorr ~ Chief Legal Officer & Partner, Trian Fund Management, L.P.
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