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November 7, 2017
Articles

Bruce Goldfarb, chief executive of Okapi Partners, a firm that helps run proxy fights but was not involved in this one, said that Mr. Ackman’s reputation had taken a blow, but that if ADP performed well in the future, investors might give him some of the credit.

“The short term sting to Ackman’s reputation will be painful and may impact his next campaign,” he said. “Nevertheless, the true reputation of any activist is based on the change in value of the target selected and the impact on that value that can be attributed to the campaign.”

November 2, 2017
Articles

But management usually has the advantage when shares held by employees are voted in a proxy battle, said Bruce Goldfarb, chief executive officer of Okapi Partners LLC, a New York-based proxy solicitor.

“Current employees tend to support management, especially if the employees do not think voting will be confidential,” Goldfarb said, speaking in general terms. A P&G spokesman said management cannot see how employees voted.

October 16, 2017
Articles

“You’re talking about the end stage of an election campaign, where the parties haven’t kissed and made up,” said Bruce Goldfarb, founder and chief executive of Okapi Partners, a proxy-solicitation firm. “There’s a little bit of venom to the process.”

August 28, 2017
Articles

Beleaguered Hedge Fund Titan Bill Ackman Is Having Another Rough Year It certainly looks like 2017 is shaping up to be another “terrible, horrible, no good, very bad” year. By Ron Orol Bill Ackman earlier this month escalated his activist campaign to install three dissident directors onto Automatic Data Processing Inc.’s (ADP) board with a 167-page presentation […]

July 13, 2017
Articles

Calling ‘Mom and Pop’ in a Proxy Fight Article published on June 12, 2017 By Lindsay Frost   A heated battle at Arconic last month ended in a successful settlement for activist investment firm Elliott Management, partially due to its unique approach to winning over retail voters, who make up about 30% of outstanding stock: sending them individual video […]

February 2, 2017
Articles

By Bruce H. Goldfarb The giant shift in assets from active to passive investment strategies over the last few years has profoundly changed the balance of shareholder power in corporate America. Index funds managed by investment giants such as BlackRock, Vanguard, and State Street are now more influential than ever. These investors not only own […]