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Activism Defense

Paul, Weiss offers a highly experienced shareholder activism defense practice. We help public companies and their boards prepare for, respond to and navigate activist share accumulations, settlements, proxy contests and other hostile campaigns by activist investors. We are deeply familiar with the activist investor playbook, whether the focus is changes to management or directors, a shift in strategy, return of capital, operational changes or pursuing a takeover, break-up or sale of a company. Importantly, we take a commercial, problem-solving and situation specific approach to assessing, advising on and implementing the best way forward.

Client News

McDonald’s Wins Proxy Fight With Carl Icahn

Paul, Weiss represented the board of directors of McDonald’s Corporation in its successful proxy fight with activist investor Carl Icahn.

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Client News

Crown Castle Wins Proxy Contest With Boots Capital

Paul, Weiss represented the board of directors of Crown Castle Inc., one of the nation’s largest providers of shared communications infrastructure, in its successful proxy fight with Boots Capital, an investment vehicle led by Crown Castle’s co-founder and former CEO, Ted Miller.

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Client News

Red Robin Reaches Agreement With Two Activist Investors

Paul, Weiss advised the board of directors of Red Robin Gourmet Burgers Inc. during the activist campaign by and settlement with JCP Investment Management LLC and Jumana Capital Investments LLC.

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Client News

Paul, Weiss Advises Starbucks in Activist Campaign by Elliott Management

Paul, Weiss advised Starbucks Corporation in its response to the activist campaign by hedge fund Elliott Investment Management L.P.

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Client News

Merck Overcomes Avoro Challenge to Acceleron Acquisition

Paul, Weiss helped Merck navigate an activist hedge fund challenge and successfully consummate its $11.5 billion acquisition of Acceleron, a biopharmaceutical company focused on rare disease treatments, the largest biotech deal completed in 2021.

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Client News

Intel Reaches Agreement With Activist Investor Third Point

Paul, Weiss advised Intel Corporation in its engagement and subsequent settlement with activist investor Third Point LLC.

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Publications

Krishna Veeraraghavan Notes Board-Level Impact of U.S. Debate on Unequal Share Structures in Financial Times Corporate Governance Column

Corporate partner Krishna Veeraraghavan spoke with the Financial Times about the debate surrounding the increase in dual-class share structures.

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