|
Heading into what is expected to be a busy year for shareholder activism and M&A, advisors are emphasizing preparedness in their client holiday cards: Semper Paratus.
At a time when expectations are rising for a busy 2025 in the deal world, advisors believe M&A will be a core part of activism next year compared to more of a focus on operational improvements in the past few years. Bank of America is advising its clients to prepare for the raiders, tell your own story before someone else does, and not be surprised, its activism chief Amy Lissauer noted during an interview with CNBC’s Becky Quick on Tuesday.
For good companies with an undervalued or unloved stock price, be on the lookout for a wolf showing up at the door and therefore get ahead of it now with both IR and comms planning and narrative development: “How do you make sure you are thinking about your messaging and you are communicating to shareholders well before someone tries to come in with an alternative solution for the company…How do you make sure you are being proactive in terms of the company narrative?” Lissauer says. “A lot of it does have to do with communications and communicating with different shareholders you have in an appropriate way.”
As communications advisors, we agree! Creating and driving a strong corporate narrative before someone else reframes can be make or break. (And just like Zabar’s, GPP is open during the holidays, FWIW.)
For reading pleasure in front of a fire with a nice glass of Amarone della Valpolicella, we leave you with a paper by longtime Yale Law professor Jonathan Macey on why Delaware got the Elon Musk compensation case wrong. Using West Palm Beach Firefighters’ Pension Fund v. Moelis and Tornetta v. Musk, Macey argues it’s time for Delaware to stop protecting minority investors who don’t want protection.
Thank you for reading our newsletter, which with wit and wisdom tries to keep you informed about the world of activism and governance while providing tips on the culinary and cultural delights of NYC. Looking ahead, make plans for JP Morgan Healthcare, Tulane (same week as Mardi Gras) and Milken. Wishing everyone healthy and happy holidays and hoping for a year of peace in 2025.
Cheers,
GPP
| 
