The Major Asks of Activist Investors Today

M&A activity is not particularly strong. So what are the outcomes that these activist investors are looking for today? That's a great question. I will maybe separate M&A spin-offs, because I do think that investors are still very focused on portfolio simplification. The other things we're seeing is capital allocation. There's a big focus on return of capital to shareholders,. especially for companies with high cash balances and depressed stock prices. In 2021, there was almost a trillion dollars of corporate share repurchases. in 2022, it exceeded a trillion dollars. As we enter 2023, we're coming off of a momentum of two very active and record years of share repurchase activity