1. Rise in Proxy Battles Indicates Vulnerability in Gaming Industry

    Rise in Proxy Battles Indicates Vulnerability in Gaming Industry

    A decade ago, activist hedge funds had $10 billion invested in proxy fights that sought to influence board elections, switch out management or change a business’s direction. Today, the figure is estimated to have grown to $215 billion. “The sharks are looking for blood in the water,” said attorney Clifford Neimeth, a Greenberg Traurig shareholder and a specialist in corporate securities law...

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    1. The sharks are looking for blood in the water.
    2. They can be a huge time-suck for management and a distraction.
    3. The challenge is to create credibility.
    4. You have about 10 to 15 serial activists who have the capital and the time to evaluate targets.
    5. There is no question this activity will continue.
    6. I think their assumptions were a bit aggressive.
    7. There is $2.5 trillion in real estate sitting on balance sheets.
    8. It often behooves a company to settle.
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