Freedman Quoted in The Street Regarding Recent Market Shakeup and Activists
Olshan Activist Co-Head Andrew Freedman was quoted extensively in a The Street article discussing the recent shakeup that has occurred due to the selloff in the stock market. Freedman explains that “A shakeup was bound to come” and noted that “the newcomers are more vulnerable… on the hedge fund side; it’s going to be more difficult on the new entrants still looking to prove themselves. What you have is a bit of an overcrowded activist market.” Freedman remarks that firms that “were restructured after the 2008 financial crisis have more staying power by implementing longer lockup periods.” These hedge funds are presented with the opportunity to invest in companies that are now a relative bargain. Examples of these well- known established activists that were noted in the piece and are poised to successfully weather the downturn include firm clients Starboard Value and Elliott Management. Additionally, he explains that “companies that have assets like cash or real estate, value separate from where their stocks are trading at, are particularly attractive.” Freedman concludes by stating that there is a profusion of opportunity for the solid and financially secure activists.