COVID-19 and Activism

From Sidley Austin: As the COVID-19 pandemic began to unfold in the US in early March, it quickly became clear that the crisis would act as a “poison pill” that would sharply reduce shareholder activism in the spring. Initially, many activists were preoccupied with their own survival and/ or attracting new capital rather than launching…

‘Poison pill’ stops the presses on boardroom coup attempt at Johnston Press

A discredited US-created management entrenchment provision is being used in the UK. An attempted boardroom coup at Johnston Press has been thwarted by a controversial “poison pill” defence that could hand control of the newspaper publisher to its lenders.Christen Ager-Hanssen, the activist shareholder plotting to oust chairman Camilla Rhodes and the company’s senior management, has…