Daniel Loeb, chief executive officer of Third Point LLC, speaks at the Skybridge Alternatives conference in Las Vegas, May 18, 2017.
David Paul Morris | Bloomberg | Getty Images
In light of the global pandemic, it comes as no surprise that activism in 2020 was down.
There was less 13D activism, less UTT-activism and less capital invested in new campaigns. (“UTT” activism, or under-the-threshold activism, are activist campaigns by shareholders owning less than 5% of the common stock and not required to make a 13D filing.)
However, it is remarkable that the average market capitalization for total activism was at its highest in the past four years at $21.04 billion (compared to $9.87 billion in…