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Lazard's Quarterly Review of Shareholder Activism – Q3 2022

Oct 6 2022

Lazard's Quarterly Review of Shareholder Activism – Q3 2022

To request a copy of Lazard’s Q3 Review of Shareholder Activism, please email activismupdates@lazard.com.

Lazard’s Q3 2022 review of shareholder activism highlights key trends and data in shareholder activism activity in Q3 and 2022 YTD. Q3 represented the third consecutive quarter of year-over-year elevated activity and contributed to 2022 YTD activity levels already approaching full year 2021 levels.

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Q3 activity was most robust in the U.S. and, for the second consecutive quarter, targeted technology companies at above-average levels. Compared with H122, Q3 saw an increased share of campaigns focused on M&A-related objectives, while demands around strategy and operations rose in frequency for the second consecutive quarter.

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Finally, the impacts of the SEC’s new universal proxy rule – in force as of September 1, 2022 – will begin to be felt in Q4 and into early 2023, potentially portending a busy end-of-year period for new activist activity. 

Email activismupdates@lazard.com to request a copy of the 14-page report.

 

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