Our experience
Our lawyers are experienced in advising both activist investors and non-executive directors of ASX 200 companies in responding to activist demands.
In recent years, shareholder activism has increasingly become a topic of interest and strategic discussion in corporate boardrooms and across the media and analyst community. With a thriving activist contingent, dedicated activist funds increasing their funds under management and a favourable legal system, the Australian market is primed for more activity.
ABL acts for investors and hedge funds as well as ASX-listed companies, and has represented both activist shareholders and target boards in recent high-profile activist campaigns.
Each activism campaign presents unique challenges and opportunities. Combining our corporate law, governance and dispute resolution expertise, our activism team is able to assess each situation from all perspectives and strategically advise on the best course of action to achieve clients’ commercial and reputational objectives. Our team is experienced in working with the full range of stakeholders involved in activist situations including proxy advisors, public relations firms, investment banks and independent financial advisors.
In 2016, ABL partnered with Activist Insight to produce a report providing the first detailed analysis of activist investing trends and insights in Australia.
“A firm that values your business and that you can get frank and fearless advice from.”
Our work
Bruce Mathieson Group
Saba Capital
Alta Fox
Premier Investments
Abercrombie and Humm
Redcape Property Group
VGI Investments
ARA Asset Management
Slea
Merlon Capital Partners
Dr. Gary Weiss and Ariadne Australia
CEO of Praemium
Halom Investments
Solomon Lew
Mark Carnegie
Shareholder Activism services
Advising shareholders on:
- all aspects of their strategic planning and approach including formulation of ‘white papers’ and public statements
- constructive board engagement while navigating Australia’s insider trading regime
- stake building and potential implications for any future take-private strategy
- information requisitions under the Corporations Act
- calling of extraordinary general meetings, shareholder engagement and proxy solicitation campaigns
- hostile transaction options and the limitations of shareholder power to interfere with management of a company
- seeking regulatory intervention from ASIC, ASX and/or the Takeovers Panel, and
- Annual General Meeting planning, including attendance and public statements and strategies around remuneration strike voting.
Advising companies on:
- strategies to avoid being targeted by activist shareholders
- pre-emptive planning and response strategies
- public engagement and responses to information requisitions
- responding to shareholder convened or requisitioned meetings
- shareholder engagement and proxy solicitation campaigns and engaging with proxy advisors
- seeking regulatory intervention from ASIC, ASX and/or the Takeovers Panel
- Annual General Meeting planning, including attendance and public statements and strategies around remuneration strike voting, and
- business continuity, non-ordinary course transactions and raising equity in the face of a shareholder activism campaign.
People
Insights & news
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Goyder’s fight at Woodside highlights question of shareholder voice
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Golden opportunity to rethink the arbitrary and redundant 50-member rule
![2022 11 16 ABL Lawyers 312](https://abl.sfo2.cdn.digitaloceanspaces.com/public/Uploads/2022_11_16_ABL_Lawyers-312__FocusFillWzU4MCwzODQsInkiLDFd.jpg)
Shareholder activism in Australia 2023: new report highlights changes in tactics and targets
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Gunslinger lawyer catches the attention of US investor in new activist campaign
![boardroom](https://abl.sfo2.cdn.digitaloceanspaces.com/public/Insights-and-News/boardroom__FocusFillWzU4MCwzODQsInkiLDFd.jpg)
Humm investor requests share register; proxy battle on horizon
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Time to axe the 50-shareholder threshold
![Boardroom with view](https://abl.sfo2.cdn.digitaloceanspaces.com/public/Uploads/Boardroom-with-view__FocusFillWzU4MCwzODQsIngiLDExXQ.png)
Boards need to take the weight of today’s issues, not long for yesterday’s
![Short selling stock](https://abl.sfo2.cdn.digitaloceanspaces.com/public/Uploads/Short-selling-stock__FocusFillWzU4MCwzODQsInkiLDFd.jpg)
Rogue short-selling activists must be brought to account
![Gaming](https://abl.sfo2.cdn.digitaloceanspaces.com/public/Uploads/Gaming__FocusFillWzU4MCwzODQsInkiLDI1XQ.jpg)
Robinhood traders shouldn’t be GameStopped
![iStock 1189129733](https://abl.sfo2.cdn.digitaloceanspaces.com/public/Uploads/iStock-1189129733__FocusFillWzU4MCwzODQsInkiLDFd.jpg)
Will shareholders accept lower returns to pay for action on climate change?
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Why aren't boards listening anymore?
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Newly appointed Senior Associate Vidushee Deora on market trends
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2020 Partner, Special Counsel and Senior Associate announcement
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Enhanced whistleblower regime
![Arnold Bloch Leibler_Tax Disputes Portal_Private Groups_Australian Taxation Office ATO Guidance on Division 7A and Section 100A](https://abl.sfo2.cdn.digitaloceanspaces.com/public/Uploads/Man-in-suit-writing__FocusFillWzU4MCwzODQsIngiLDBd.jpg)
Climate’s right for shareholder activism
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2019 Partner, Special Counsel and Senior Associate announcement
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Jeremy Leibler: “The activists are coming”
![Scott Phillips web article](https://abl.sfo2.cdn.digitaloceanspaces.com/public/Uploads/Scott-Phillips-web-article__FocusFillWzU4MCwzODQsIngiLDExXQ.jpg)
Time for Australia’s Listing Rules to change
![Jeremy Leibler action](https://abl.sfo2.cdn.digitaloceanspaces.com/public/Uploads/Jeremy-Leibler-action__FocusFillWzU4MCwzODQsIngiLDExXQ.jpg)
Gun slinger lawyer firing up AMP activist campaign
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Myer chair’s independence questioned
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AGM season not all tea and biscuits
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Australian Guide to Corporate Governance 2018
![Corporate Governance submission](https://abl.sfo2.cdn.digitaloceanspaces.com/public/Uploads/Corporate-Governance-submission__FocusFillWzU4MCwzODQsIngiLDExXQ.jpg)
Good corporate governance not a “one-size-fits-all”
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Shareholder activism in Asia
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5 minutes with newly appointed Partner Jeremy
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Get balance right in the boardroom
![Jeremy Leibler AICD Summit](https://abl.sfo2.cdn.digitaloceanspaces.com/public/Uploads/Jeremy-Leibler-AICD-Summit__FocusFillWzU4MCwzODQsIngiLDExXQ.jpg)
Small pool of NEDs fuels shareholder activism
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Shareholder activism update
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ABL advises Halom Investments on public dispute with MMA Offshore
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Successful activist campaign sees Gary Weiss and Brad Richmond invited onto Ardent board
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