Activistmonitor, an Acuris comprehensive shareholder activist platform that covers shareholder activist data and intelligence, including 13F filing analysis, has released its findings for the first half (H1) of 2017 for shareholder activism in North America. Please see the full report here.
Take a look at a few highlights:
- This year saw the return of the super campaign, as companies with market caps above USD 10 billion saw a 66.7% increase in activity. Companies with market caps above USD 5 billion saw a 70% jump in activity. Trian Partners disclosed a USD 3.5 billion stake in Procter & Gamble in February and launched a proxy campaign in July to place Nelso Peltz on the board. General Motors caugh the attention of Greenlight Capital, which called for the company to change its capital structure. Whole Foods was pushed by Jana Partners into the hands of Amazon.
- The data for the first half of the year show a bgi shift in sector activity, as activity in the consumer and leisure sector grew 66.7% and h ealthcare had a 40% jump in campaigns. FIG and real estate saw a drop-off in activity. Hain Celestial and Potbelly attracted Engaged and Ancora, respectively. Jana disclosed a position in Bristol-Myers Squibb in February and Elliott called for operational changes at athenahealth.
- Board-related and governance changes continue to lead the demand makeup of activists. Board-related changes made up 36% of demands for 1H17, versus 34% in 1H16. Governance changes made up 24% of demands versus 26% last year. Cost-related changes showed the highest growth.