POWERFUL & EFFECTIVE

CMi2i’s Activist Defence Solution


As most companies are aware, “Passive” investment no longer means “Passive Engagement”. With even Index Funds and Sovereign Wealth Managers wielding their voice and their vote, it has become evident that investor activism can come from unexpected sources. Activists rarely come across opportunities by accident and should never be considered to be working alone. They are well prepared and well-resourced, and it has become vital for a company to understand where they could be vulnerable to “Activist Campaigns”, and whether they have the support from their share/bondholders needed to defend the organisation’s position. 

CMi2i is the industry leader of mission-critical intelligence for shareholder activism issues. We have been trusted by the world’s largest organisations to provide real-time ownership data that has ensured companies are ready for, and can successfully defend against, shareholder and bondholder activists. CMi2i’s expertise in activism underpinned by our senior advisors’ extensive experience as activists and our unrivalled investor identification capabilities.

 
 

THINK LIKE AN ACTIVIST

Attack devices


  • Aggressively criticising a company’s governance, management, business and strategy and presenting the activist’s own recommendations and business plan.

  • Proposing a precatory proxy resolution for specific actions prescribed by the activist or the creation of a special committee of independent directors to undertake a strategic review for the purpose of “maximising shareholder value.”

  • Recruiting candidates with industry experience (including retired CEOs of major companies or even former executives of the target) to serve on dissident slates, and conducting (or threatening to conduct) a proxy fight to get board representation at an annual or special meeting or through action by written consent (solicitation for a short slate is very often supported by ISS and, if supported, is often, though not always, successful, in whole or in part).

  • Orchestrating a “withhold the vote” campaign.

  • Attempt to force a sale by initiating rumours of an unsolicited approach, publicly calling for a sale, making their own “stalking-horse” bid or partnering with a hostile acquirer to build stock positions in the target.

  • Rallying institutional investors and sell-side research analysts to support the activist’s arguments.

  • Using stock loans, options, derivatives and other devices to accumulate positions secretly or increase voting power beyond the activist’s economic equity investment.

  • Using sophisticated public relations, social media and traditional media campaigns to advance the activist’s arguments.

  • Investing in significant diligence and third-party consulting services to analyse the target’s business.

  • Seeking to create divisions within the boardroom or between the board and management.

  • Reaching a company’s retail shareholders with weekly mailings, telephonic outreach, local newspaper advertisements and user-friendly infographics.

  • Hiring private investigators to create dossiers on directors, management and key employees and otherwise conducting aggressive “diligence.”

  • Litigation

OUR APPROACH

Take decisive action


CMi2i’s senior advisors are ex-activists, giving them unrivalled insight into defence strategies. We have helped the world’s largest issuers and their advisors with successful activist defence campaigns. Our team has the experience, insight and intelligence to help you amass shareholder support and win the vote.

CMi2i’s activist defence products and services can be used individually, or together as part of a 3-step process, benefiting those issuers who are wondering if they have an activist investor, to those in the midst of a heated activist battle. Our advisors will guide you each step of the way.

Shareholder Identification
Shareholder Identification
Risk & Opportunities Analysis
Risk & Opportunities Analysis
S.H.I.E.L.D. Defence Implementation
S.H.I.E.L.D. Defence Implementation
 
CMi2i Activist Defence Solution

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EXTENSIVE EXPERIENCE

Activist Defence, Transactions & Special Situations


SCA
NLMK
TOPN30HT
PN
Nordea
Neopost
VTB
Bayer
Amer
Ahold
Ziggo

CONTACT US

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HARRY ST. JOHN COOPERSenior Advisor Shareholder Activism

HARRY ST. JOHN COOPER

Senior Advisor Shareholder Activism