From October 2008 through December 2008, activist investors are reported to have targeted information technology and consumer discretionary companies. Board seats were also a popular demand by activists as well as buying/selling a target company, according to a new report released by Thomson Reuters.
The Strategic Research Report on Shareholder Activism for 2008 also showed that the number of cases where activists were successful declined during the period. Activists were successful 29 percent of the time and compromised 38 percent of the time. These numbers declined from 41 percent and 12 percent, respectively, in 2007.
Notable billionaire shareholder activist Carl Icahn and Pershing Square were absent from activity in the fourth quarter.
The report notes that the increase in activism cases in the first quarter of 2009 should place companies on high alert.