Spain ranks fourth in Europe for shareholder activism
18 November 2022 Articles
Spain has been ranked as the fourth country in Europe to receive the highest number of activist campaigns so far this year, having risen five places when compared to 2021.
In this article by the Spanish economic media El Economista, Morrow Sodali's experts explain how Spain is experiencing a substantial increase in activism. According to Spainsif's latest annual report from 2021, the volume of assets managed under strategies that apply the so-called "engagement" and active voting, multiplied by 3.6 times reaching 111,717 million. Shareholder activism has skyrocketed during 2022 with 7% of all campaigns launched in Europe on listed companies targeted at Spanish companies. There have been 45 campaigns in Europe which is 32% higher when compared to the same period in 2021. Globally, there were 171 campaigns which is a 39% increase from 2021.
The article also highlights Morrow Sodali's finding from its recent Lighthouse Europe, which reveals the downward trend of average support for remuneration for IBEX 35 companies during the 2022 AGM season, with the average positive vote from the free float at only 67.2%.
Read more here (in Spanish).
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