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shareholder activism isnt new but how activists approach a board and how that board responds has changed corporate partners Steve Williams and Jeff Morrell joined me to discuss recent developments in activism and Jeff generally speaking how has activism changed I think the theme today is one of operational activism you see dissident or unhappy stockholders not merely lambasting the management or the companys business plan but putting forth their own ideas of what the company should be doing and being well thought-out well planned out and really having a an agenda for what the company ought to be doing Steve poison pills are traditional defense but whats changed in how boards adopt that response well the the trend over the past several years of hostility to the traditional corporate defenses has only grown and the poison pill of the the old model of a long-standing poison pill thats put in place in peacetime and stays there has largely fallen victim to that today what youre seeing
