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24 July 2023 • Articles


Activist investors target companies in Italy

In the first quarter of this year, there was a decline in the presence of activist funds in the US market. This situation is quite different in Europe, where there is significant growth in investments (over 20%). These findings emerge from Morrow Sodali’s Quarterly Activist Ownership Analysis which reviews the activist funds activity in the first quarter.

In an interview with DealflowerFabio Bianconi, Morrow Sodali's Managing Director, explains how Italy boasts a strong active shareholder base, that makes it particularly attractive to activism.

“Minority shareholders are strongly protected by the Italian regulatory framework, being characterized by a strong concentration of ownership structures. As a consequence, it makes the Italian market particularly attractive to activists,” says Bianconi.

“The activists’ role will change in the future. Compared to a few decades ago, the way activists act has already undergone a major transformation. The focus is no longer only on operational and strategic aspects, but also on extra-financial metrics such as board composition, management remuneration, risk management and climate transition. We are only at the beginning of a new and important season for activism,” adds Bianconi.

Read the full article here (in Italian).

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