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Reuters Quotes Wolosky on Activist Investors Chasing the Same Targets

March 17, 2014

Activist Practice Chair Steve Wolosky was quoted in a Reuters article about how several investors are increasingly bumping into one another in corporate campaigns, as more and more funds are showing a willingness to follow activist strategies. Investors say that it's getting harder to find easy targets as investors are chasing the same "low-hanging fruit" - companies that have poor corporate governance or performance and are vulnerable to calls for change. Wolosky was quoted as saying, “There's only so many companies that are undervalued and a lot of people are looking at the same screen and the same performance criteria.” As mentioned in the article as examples, Olshan represents Starboard Value in connection with its activist campaigns at Darden Restaurants and Aarons Inc., Coppersmith Capital in connection with its settlement for Board seats at ConMed Corp, and a group led by PW Partners in connection with its nomination at BJ’s Restaurants, Inc.

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