Activist Hedge Funds Are Having More Trouble Stopping Deals

Starboard, Pershing Square, Third Point and Icahn have all failed to stop M&A transactions they oppose, a new report notes.

Jeff Smith, CEO of Starboard Value (Christopher Goodney/Bloomberg)

Jeff Smith, CEO of Starboard Value

(Christopher Goodney/Bloomberg)

Several big-name activists have been unsuccessful in shaping the corporate landscape by stopping mergers they oppose, a new report details.

Starboard Value couldn’t stop Bristol-Myers Squibb from taking over Celgene, and neither Pershing Square Capital Management nor Third Point had any success in stopping United Technologies from its plans to acquire Raytheon.

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