Activist Investors Take on Bigger Targets

Institutional investors are providing the muscle for activists’ efforts.

The world’s biggest fund managers are giving shareholder activists the muscle to take on larger companies from Dell Inc. to Microsoft Corp.

“They’re able to go after big companies because they are very effectively communicating with large institutional stockholders,” said Scott A. Barshay, a partner at the law firm Cravath, Swaine & Moore LLP, at the annual Bloomberg Markets 50 Summit in New York today. “That’s a very new phenomena.”

Deal Rebound

A pickup in deal making globally will only follow a recovery in confidence among buyers, Jacobs said.

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