Startup unicorns, defined as those nascent companies with valuations greater than $1 billion, are increasingly undergoing IPOs and listing on national exchanges.1 Following the high-profile failures of the Snap2 and Blue Apron3 offerings, the next unicorns to turn public are being intensely scrutinized. At the end of 2017, digital music giant Spotify announced that it…
Author: Alex Kraik
Activism and the P&G Proxy Fight: A Sign of Changing Times?
On October 10, Procter & Gamble (“P&G”) announced the results of the board of directors election at its most recent meeting of shareholders.1 The company’s shareholders re-elected all eleven incumbent members of the board.2 This victory over challenger Nelson Peltz of Trian Partners (“Trian”) ended the most expensive proxy fight in history.3 The nearly four-month…