Freedman Quoted in a Law360 Article on Altera’s Acquisition by Intel

Olshan Activist & Equity Investment Partner Andrew Freedman was quoted extensively in a Law360 article on the Altera Corporation acquisition by Intel Corporation. The acquisition marks a fusing of two chip-making industry leaders in the tech sector that continues to see growth and strengthening.  Olshan client TIG Advisors LLC, an Altera investor, was disturbed after Altera initially refused to engage in talks with Intel. TIG Advisors threatened a withhold campaign in which TIG Advisors attempted to get fellow shareholders to join it in voting against Altera's Lead Independent Director T. Michael Nevens at the annual shareholder meeting to show that shareholders supported a deal. Freedman notes that even though Altera wound up agreeing to a deal without having to engage in an actual proxy battle, the threat of a withhold campaign led to its acceptance of the deal. "It shows that investors, the true owners of the company, can play a pivotal role in M&A from outside the sale process by putting pressure on a company to do the right thing and ensure that the best interests of shareholders are paramount in deal talks," Freedman states. The Intel deal is a "win for shareholder activism and shareholder empowerment" in addition to being a victory for TIG Advisors and all Altera shareholders according to Freedman.