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De-SPACtivism: How Post De-SPAC Public Companies Can Prepare for a Tidal Wave of Proxy Fights, Hostile M&A and Short Attacks

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Post De-SPAC public companies saw an unprecedented number of shareholder activism campaigns during the 2021 and 2022 proxy seasons. The vast majority of these campaigns took the form of short attacks and proxy fights against post de-SPAC public companies to replace directors. As market capitalizations of these companies continue to plunge, we expect to see a rise in another form of activism – hostile M&A.

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In this presentation, hear from V&E’s #1 ranked* Shareholder Activism Defense team as they review activism data for post de-SPAC public companies over the past few years. The presenters shared “war stories” based on recent experiences defending such companies against a range of shareholder battles. Lastly, the presentation covered the steps well-prepared boards and management teams are taking to get ready for the rising tide of activism campaigns in the upcoming 2023 proxy season.

This presentation was recorded and current as of October 20, 2022. Content viewed after this date may no longer be current.


*As ranked in 2022 by Chambers USA, The Legal 500 U.S., Bloomberg, FactSet, Refinitiv and Activist Insight.

This information is provided by Vinson & Elkins LLP for educational and informational purposes only and is not intended, nor should it be construed, as legal advice.