U.S.-style shareholder activism going global

By Joe Vladeck

Activist hedge funds and aggressive institutional shareholders are looking beyond U.S. shores, according to a new report from Citigroup. Despite its niche status, shareholder activism in the U.S. has generated headlines over the past several years. Most recently, investor Carl Icahn pressured Apple to return money to shareholders, arguing that the California company's stock was grossly undervalued. 

Bolstered by successes in the United States, activists are searching for new targets and are beginning to look abroad. The Citigroup report identifies factors that make international firms attractive targets of activists: unimpressive or overly conservative financials, slow growth, or unwieldy conglomerations of businesses that could be profitably broken apart. 

Check out Dealbook for a summary of Citigroup's report.