A&M Activist Alert
Alvarez & Marsal
Our latest A&M Activist Alert ("AAA") Interim Outlook reviews shareholder activism in Europe in 2023, and predicts how such activism will evolve over the rest of the year and into 2024. As part of our analysis and predictions we have identified 143 European corporates that we consider are at heightened risk of shareholder activist campaigns over the next 18 months.
July 2023
Now in its sixth year, the "AAA" is the most comprehensive forecasting tool of its kind. Based on statistically robust analysis it has successfully predicted ~50% of public activist campaigns over the past five years. It focuses on the major European markets of the UK, Germany, France, Scandinavia, Switzerland, Benelux, Italy and Spain.
Click to download the A&M Activist Alert 2023 Interim Outlook
Selected observations and predictions for 2023 and into 2024:
- Momentum is building and will continue to build - a wave of shareholder activism will travel over from the US and arrive in Europe
- Activists will continue to focus on the "Big 5" markets of the UK, Germany, France, Switzerland and Scandinavia
- The rising cost of capital will drive even greater activist focus on operational, strategic and capital transformation
- "If you can't sell, fix" - reduced M&A opportunities will increase activist demands for corporate performance improvement
- The Consumer, Industrial & Technology sectors will receive the highest levels of activist attention
Whilst we do not publicly release individual company predictions, we would be delighted to discuss specific AAA modelling and analysis for any particular corporate with a senior member of the company. Arrange a personalised de-brief with the A&M team by contacting Malcolm McKenzie or a member of our team in your local region.
