Mark Grothe, Senior Research Analyst, M&A and Contested Situations, Glass Lewis, a leading proxy advisor that gives investors recommendation on key shareholder votes, discusses how his firm’s default approach is generally to support SPAC mergers (while still voicing concerns over anything from valuation to governance). He points out that the share price of a SPAC before a deal closes may not reflect the true value of the business. “There’s a lot of trading in and out, there’s a lot of share turnover before that de-SPAC transaction hits and I think you really get away from the fundamental value being reflected,” he says.
CorpGov and The Palm Beach Hedge Fund Association hosted the 2022 Winter Activism Forum on Feb. 16 featuring leading market participants and advisors who have consulted on board intelligence and the most prominent activism campaigns in recent years. A complete report with more videos can be found here.