Sidley Shareholder Activism Review – Tales from the Trenches – | Knowledge


In the news

Sidley represents Box in successful proxy contest against Starboard Stock

Sidley represented Box, Inc. (NASDAQ: BOX) in its successful proxy contest against activist hedge fund Starboard Value. All of the outgoing directors nominated for election were re-elected by shareholders at the 2021 annual meeting.


Rankings and Achievements

Sidley recognized as ‘Advocate Defense Advisor of the Year’ by The Deal

Sidley was selected as “Defense Adviser of the Year (Large Cap)” by The agreement for the work of the firm in 2020. The agreement The Price Research Team said of Sidley’s victory: “During the price review period, Sidley Austin was a leading advisor to companies involved or preparing to face challenges. activist investors. The company has worked on some of the most impactful and contested deals over the past year, and their teams have impressed. The agreementjury from across a range of disciplines.

Sidley ranked # 1 in H1 2021 by FactSet for Corporate Defense and Bloomberg for Activism Defense

Sidley was ranked # 1 in FactSet Flashwire Advisor Quarterly for the defense of companies and n ° 1 in Bloomberg Global Activism Market Review Advisor Ranking for advocating activism among law firms in the first half of 2021. For Bloomberg, Sidley received the top ranking for campaigns around the world and in the US for all campaign activity metrics – number of campaigns, market capitalization of companies represented and cumulative size of activist issue. Sidley was also ranked # 1 for corporate representation in the tech and industrial sectors. This new ranking follows Sidley’s previous No.1 ranking in the Bloomberg, FactSet, Refinitiv (formerly Thomson Reuters) and Activist Insight Activist Defense rankings for 2020.


A wake-up call not just for big oil companies: the intersection of economic activism and ESG
Kai Liekefett and Derek Zaba

In the last Ethics meeting room magazine, Kai Liekefett and Derek Zaba published an article titled “A wake-up call not just for big oil companies: the intersection of economic activism and ESG”. Their article discusses the recent success of shareholder activists against Big Oil during U.S. proxy season 2021 and how this dynamic is spreading to all state-owned companies, regardless of industry. These triumphs reflect the growing and effective pressure investors are exerting on SOEs to improve their environmental, social and governance (ESG) practices.


SAVS: a new frontier for shareholder activism
Derek Zaba, Kai Liekefett and Joshua G. DuClos

In the NIRIs RI Update, Derek Zaba, Kai Liekefett and Joshua DuClos published an article titled “SPACs: A New Frontier for Shareholder Activism”. Their article explains how the PSPC boom has created new fertile ground for activist targets and how PSPCs should prepare for a militant attack.



SPACtivism: Navigating the New Frontier
Thursday, October 21, 2021

As SPACs spawn a different breed of new public companies, activist shareholders are taking note, leaving these companies vulnerable to both traditional attacks of long and short activism. The risk and nature of activism can vary widely at all stages of the PSPC lifecycle. During this webinar, listen to leaders of Sidley’s shareholder activism and PSPC practices as they discuss what to do to prepare for PSPAC.

CLE credit for this program is pending.


Society for Corporate Governance 2021 Eastern Regional Fall Conference
Thursday, October 21, 2021

The Society for Corporate Governance has partnered with Sidley for two upcoming multidisciplinary panels on shareholder activism. Sidley partner Kai Liekefett will host one panel and Sidley partner Charlotte Newell will speak on another.

Shareholder Activism, Bid Wars and Hostile Takeovers – Recent Developments
This panel will analyze the 2021 proxy season, including high profile proxy fights at Exxon Mobil and Box. Panelists will also discuss the recent increase in bidding wars as well as the increase in hostile takeover activity (for example, the battle on Cubic). This panel is composed of a defense banker, a lawyer and an agent as well as a representative of one of the largest institutional investors in the world.

Litigation in shareholder activism campaigns and proxy struggles
This panel will explore how litigation is used in militant campaigns and hostile takeover battles. Moderated by one of the world’s leading defense bankers, the panel includes a prominent securities lawyer, public relations expert and attorney who will discuss potential claims, public relations considerations and voting implications. of this type of business.

CLE credit for these programs is pending.


Do proxy advisors add value?
Tuesday, October 26, 2021

Sidley partner Kai Liekefett will speak at a virtual panel discussion hosted by the National Association of Corporate Directors (NACD) in Northern California. The panel will address the ongoing debate about how proxy advisory firms affect business decisions.


Source link


Leave A Reply