November 15, 2018
Latham & Watkins ranked #1 among law firms for activism defense by campaign count for the first three quarters of 2018, according to data provided by SharkRepellent/FactSet. The #1 ranking reflects the number of public US campaigns for which Latham defended companies with market capitalizations greater than US$250 million at the time of campaign announcement against shareholder activism during the first nine months of the year.
Latham advised 10 companies on 10 campaigns announced during the first three quarters of 2018 across from a number of primary-focus activist investors, including Atlantic Investment Management, Barington Companies, Carl C. Icahn, Elliott Management, Engaged Capital, Marathon Partners, Southeastern Asset Management, Starboard Value, Voce Capital Management, and others.
A sampling of the firm’s recent notable representations include:
- The Special Committee of the Board of Directors of Dell Technologies in connection with activism in opposition to the proposed conversion of Class V shares by shareholders including Carl C. Icahn and Elliott Management
- e.l.f. Beauty in engagement by Marathon Partners Equity Management to maximize shareholder value/enhance corporate governance
- Owens-Illinois in engagement by Atlantic Investment Management to maximize shareholder value
- Mellanox Technologies in a proxy fight by Starboard Value to gain board control
- Cars.com in a proxy fight by Starboard Value to gain board control
Latham’s Activism Practice combines the best of the firm’s corporate governance, takeover defense, and proxy contest practices to help advise public companies regarding changes to their shareholder base and interactions with activist investors.