Vodafone Rejected Iliad Bid Gives Wings to Activist DemandsUnder pressure from activist investors, Vodafone should seek strategic M&A in local markets after rejecting a bid for its Italian unit last week, a top-20 shareholder and a source familiar with the situation said. 17 February 2022
Pablo Mayo Cerqueiro, Charlie Taylor-Kroll, and Arezki Yaiche of Mergermarket cover a story on the latest activist pressure on Vodafone. Andrew Brady of SquareWell Partners comments to the journalists on the situtaion at Vodafone and Cevian’s tactics and potential route to success.
The article is available for Mergermarket subscribers.
Activist investors are expected to launch more and bolder campaigns for change among European companies in the year ahead, advisers told Reuters, after a record number in 2023.
AQTION, a subsidiary of SquareWell Partners, published its inaugural study – ‘Stewardship in AQTION’ – which details how the world’s largest 65 asset managers and owners steward their portfolio companies and how they incorporate extra-financial considerations into their investment decision-making processes.
Carl Icahn is preparing for a second board battle at gene-sequencing company Illumina after shareholders elected his candidate, Andrew Teno, to the company’s board and ousted the chairman, John Thompson, in May. Icahn then successfully pushed out former CEO Frances DeSouza in June.