Meagan Reda Quoted in Bloomberg Law on Proxy Contest Trends in 2023

Olshan partner Meagan Reda was recently quoted in a Bloomberg Law article (subscription required) on Olshan maintaining its status as the top choice for activists waging campaigns against companies, with 89 engagements and total stakes valued at $8.1 billion so far in 2023. The article mentions Olshan’s work advising Starboard Value LP’s campaign at Rogers Corp and Elliott Investment Management’s campaign at Salesforce Inc. Meagan notes that the price of a proxy contest has risen for activists this year, explaining that expenses have increased after companies amended their bylaws in ways that made disclosure requirements for activist investors much more onerous. Despite predictions that the universal proxy card would provoke a surge of activist activity, overall, Meagan said, “there are fewer campaigns that have gone to an actual fight this year, and more have settled.”