Publications

Short Slates, Majority Slates and Full Slates: Strategic and Voting Considerations

Spring 2008
Marc Weingarten
Activist Investing Developments - Spring 2008

The ultimate threat available to an activist who seeks to cause a company to take actions it advocates for maximizing shareholder value is obtaining representation on the board through which the activist can advocate, or effectuate, change from within. The prospect of one or more shareholder designees entering the boardroom is sufficiently unappetizing to most boards that its likelihood, especially in combination with the express will of the shareholders in supporting the activist’s position, is often enough to spur the incumbent board to take at least some of the desired actions.