Yes Bank fired the first salvo this year, demanding Dish TV convene a shareholder meeting to reconstitute its board. Invesco followed, with a somewhat similar request. As these actions are seen as being more than just voting against a director’s appointment or approving changes to the articles of association, they are being labelled as “activist”. How should these instances be viewed? Importantly, when do investors take such extreme steps? There are a few observations, mainly from the US market, that might hold for India.
While hostile takeovers hit the headlines, such instances are less prevalent than they appear. There are a
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