Our latest A&M Activist Alert ("AAA") report reviews how successful shareholder activists have been at choosing their targets, and how such activism will evolve in Europe through 2024.
The number of activist campaigns in Europe has increased year-on-year, up to 193 in 2023 compared with 173 in 2022 – an increase of 12%. The pressure on Boards is expected to continue in 2024, with 146 corporates identified as being at heightened risk of a public activist attack.
Click to download the A&M Activist Alert 2024 Outlook
In this year's edition, we delve into six key themes driving the predicted growth in public activist campaigns through 2024 and beyond:
- All shareholders benefit from increasing activist campaigns creating a financial incentive to hear their constructive challenges.
- Equity markets are forecast to rise, albeit gently, through 2024.
- Shareholder activism in Europe is building steady momentum with increasing numbers of campaigns being launched.
- Lower market valuations in Europe offer greater potential for buying low, pushing for change and then selling high.
- There are signs of some resurgence in M&A which bring further value realisation opportunities.
- Capital allocation will be an increasing focus with internal versus external options attracting competing demands.
Whilst we do not publicly release individual company predictions, we would be delighted to discuss specific AAA modelling and analysis for any particular corporate with a senior member of the company. Arrange a personalised de-brief with the A&M team by contacting André Medeiros or a member of our team in your local region.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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