New York Times – Shareholder activism intended to spur change in the boardroom is down significantly so far this year. At the same time, activism by hedge funds to oppose takeover transactions is rising. It appears that hedge funds prefer to battle takeover titans rather than fight for corporate governance issues. If this trend holds, it could change the way corporate America operates.
Proxy season appeared to get a fast start in the fall. Back then, the prominent activist hedge fund Pershing Square Capital Management announced that it had taken sizable positions in J. C. Penney and Fortune Brands.
