Wolosky Quoted in New York Times on Thinking Like An Activist
Activist Partner Steve Wolosky was quoted in a New York Times article about the rise of companies “thinking like activists.” Just as activist hedge funds have campaigned for change, companies are now learning to turn the same critical eye upon themselves, even hiring former activist lawyers into their ranks and hiring activist investors as consultants to coach them through simulated activist actions. Wolosky says “You basically have investment banks and legal advisers that defend companies going in and asking: If an activist looked at this company, what would they do? Then they make game theory calculations.” Activism has become so popular that nearly half of the activists that have begun campaigns this year are doing so for the first time. “I think the success of seasoned activists has encouraged both traditional hedge funds and newly formed activist investors that a public campaign can be successful,” Wolosky added.