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Andrew Freedman Quoted in ValueWalk on the Growing Popularity of Consent Solicitations

October 4, 2019

Andrew Freedman, Co-Head of Olshan's Shareholder Activism Practice, was quoted in ValueWalk regarding the growing popularity of consent solicitations within the activist world. Recently there have been multiple reports of consent solicitations for board seats. Although consent solicitations can be a practical option for shareholders in specific situations, Andrew stated that, “The current crop is unusually large.”  However, he pointed out that, “Activists are unlikely to act immediately after an annual meeting, when investors have recently had their say, or immediately before, given the lower required thresholds for effecting change – typically a plurality of the votes cast.” This was further echoed by other advisers that believe that consent solicitations are used as a necessity instead of an option.


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