U.S.-based activist investors publicly targeted more companies in almost every region in the year to April 11, except in their home market.
Almost 16% of companies targeted by U.S. activists in the 12 months to April 11 were based outside of the U.S., the highest on record according to data from Activist Insight Online. In Asia, U.S. funds targeted 21 companies, up from 16 in the year to April 11, 2018. In Europe, the number climbed from 24 to 37, largely because U.S. activism in the U.K. leapt from 7 to 19 companies publicly targeted.
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Q1 hedge fund letters, conference, scoops etc
Not all are record tallies. Activism by U.S. firms in Canada and Asia peaked in absolute and relative terms three years earlier, in the year to April 11, 2016.
In Europe (including the U.K.), a steadily growing number of companies valued at more than $10 billion has been targeted, although the past 12 months suggests a slight relative decrease versus companies valued at less than $10 billion.
Companies publicly subjected to U.S.-based activist’s demands by company-headquarter region, in the 12 months ending April 12 of each year.
Europe-based (including U.K.) companies publicly subjected to U.S.-based activist’s demands by market-cap, in the 12 months ending April 12 of each year.
Activist Insight spokesman Josh Black said: “The last 12 months saw a major uptick in the number of U.S. activists’ foreign targets, reaching a record 83 companies and proving the lure of international opportunities.”
U.S. activists are determined by headquarters and may include activists with an international presence. Company locations are also determined by headquarters.
About Activist Insight
Since 2012, Activist Insight has provided its diverse range of clients with the most comprehensive information on activist investing worldwide. Regularly quoted in the financial press, Activist Insight is the trusted source for data in this evolving space. Activist Insight offers five industry-leading products: Activist Insight Online, Activist Insight Governance, Activist Insight Vulnerability – a tool for identifying potential activist targets – Activist Insight Shorts, and Activist Insight Monthly – the world’s only magazine dedicated to activist investing.