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Activist Investing Today: Columbia's Coffee on Activists, M&A and Rules

Published: January 22nd, 2021
Columbia Law School Professor John Coffee spoke with The Deal for its Activist Investing Today podcast about Carl Icahn's Occidental Petroleum campaign, M&A, activism's impact on R&D budgets and potential new for influential proxy advisers.

Activist hedge funds hurt research & development budgets at U.S. corporations.

At least that’s the view of Columbia Law School Professor John Coffee, who spoke with The Deal for its Activist Investing Today podcast about a study he co-authored on the impact of insurgent managers on corporations and the markets overall.

In a wide-ranging conversation, Coffee explained what he thinks is going on with Carl Icahn’s objections to Occidental Petroleum’s acquisition of Anadarko Petroleum and what he thinks might be at play when activists try to nullify blockbuster mergers. Coffee, who runs Columbia’s Center on Corporate Governance, also discussed his thoughts on a new Securities and Exchange Commission effort seeking to rewrite the rules for proxy advisers Institutional Shareholder Services and Glass Lewis.

Here’s the podcast:

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