Lawrence Elbaum, Co-Head of Sullivan & Cromwell’s Shareholder Activism Practice, discussed strategies for boards navigating activism defense in a Q&A with 13D Monitor’s The Activist Report. “One of the biggest mistakes companies make is assuming activists are monolithic or driven solely by short-termism,” he said. “In reality, activists vary widely in sophistication, time horizon, and credibility with the market. Failing to distinguish among them can lead to poor strategic decisions.”
Lawrence also highlighted the importance of a well-tested and holistic approach to preparing for activist campaigns. “What drew me to S&C is the firm’s ability to bring together activism defense, M&A, governance, and litigation seamlessly, which is exactly how these situations play out in the real world. Activism today rarely exists in a silo,” he said. “Ultimately, the goal is to help our clients prepare for any potential threat and arrive at the right outcome for long-term shareholder value.”
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