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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.

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 will also share “war stories” based on recent experiences defending such companies against a range of shareholder battles. Lastly, the presentation will also cover 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.

Vinson & Elkins LLP is an accredited sponsor, approved by the State Bar of Texas Committee on MCLE. This course has been approved for Minimum Continuing Legal Education credit by the State Bar of Texas Committee on MCLE in the amount of 1.00 credit hours. Vinson & Elkins has been certified by the New York State Continuing Legal Education Board as an Accredited Provider of continuing legal education in the State of New York for the current period. This Transitional and Non-Transitional continuing legal education program has been approved in accordance with the Continuing Legal Education Board of the State of New York for a maximum of 1.00 credit hours, in the area of Professional Practice. Vinson & Elkins LLP is a Multiple Activity Provider for The State Bar of California. This activity is approved for 1.00 general hours. Vinson & Elkins is registered with the Texas State Board of Public Accountancy as a CPE sponsor. This registration does not constitute an endorsement by the board as to the quality of our CPE program. This course is eligible for 1.00 CPE credit hours, of which 1.00 hours can be applied to the area of Other. No prerequisites required.

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

Schedule

12:00 – 1:00 p.m. CT; 1:00 – 2:00 p.m. ET | Webcast

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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.