Newresearch from FactSet Shark Watch, a Norwalk, Conn.-based firm that tracksshareholder activism, shows that 501 new activist campaigns were launched in2007, a 16.8 percent jump from 429 crusades the year before.
In 2007,activist investors, mostly hedge funds, increasingly pushed for changes aimedthey say at maximizing shareholder value. For Corporate America, the takeawayis that an increasing number of shareholders are joining their ranks.
Accordingto FactSet SharkWatch, 501 activist and other campaigns for corporate control wereannounced during the year, up from 429 campaigns in 2006. In 2007, 138institutional investors and other shareholder groups (excluding individuals)announced their first ever activist-related campaign in 2007.
Hedgefunds have become more willing to publicly agitate for changes. In 2007, hedgefunds participated in 54 percent of all campaigns announced, up from 48 percent in 2006. Thepercentage of activist-related campaigns waged by members of the SharkWatch50remained steady, with 35 percent of all campaigns announced in 2007 and 2006 having atleast one SharkWatch50 member in the activist group.
TheSharkWatch50 is a compilation of 50 significant activist investors. Inclusionin the SharkWatch50 is based upon a number of factors, including the number ofpublicly disclosed activist campaigns waged and the ability to affect change attargeted companies.