Feet to the Fire: Mapping the current state of shareholder activism

Introduction  Historically, large institutional investors pursued purely financial strategies and kept a low profile in governance. This may no longer be the case. In a manner vaguely reminiscent of the corporate raiders of the 1980s, a new generation of activist shareholders is on the rise. The number of companies targeted by shareholder activists hit an […]

Special Purpose Acquisition Companies: the rise of the fast-track IPO

The origins Special Purpose Acquisition Companies were first introduced in 1990s by investment bankers David Nussbaum, Roger and Robert Gladstone, who were among the founders of EarlyBirdCapital, a boutique investment banking firm which since then launched and assisted a remarkable number of SPACs. After them, many other large investment banks started launching and backing SPACs, […]

Valeant – The Falling Star of the Big Investors

Valeant Pharmaceuticals; Market Cap: $25.73bn (as of 13/11/2015)   Introduction Valeant Pharmaceutical, a pharma behemoth renowned for its aggressive acquisition strategy, has been facing some hard times as its stellar performance has deteriorated considerably amid scrutiny over its monopoly pricing for its drugs as well as recent accusations for its relationship with Philidor, its specialty […]

Hedge fund billions: Bill Ackman’s Pershing Square raises $3bn in IPO

Pershing Square Holdings Market Cap (as of 31/10/2014): $6.181bn Pershing Square Holdings, the hedge fund company founded in 2003 by Bill Ackman, the activist investor and Harvard alumnus who boasts a $1.2bn net worth, raised $2.73bn floating for the first time in the Euronext Amsterdam on October 13th. The fund, with more than $14.1bn assets […]