Summit Notebook

Exclusive outtakes from industry leaders

Audio – Companies more likely to bend under pressure today

November 13, 2006

M&A legal gurulipton1.jpg Martin Lipton said that 30 years ago companies were unlikely to undertake strategic changes in the face of shareholder activism or takeover threats.

“Companies today have been much more inclined in the face of that kind of pressure to undertake strategic revisions,” he said, pointing to management or strategy changes, or even moves like that undertaken by Kerr-McGee, to sell assets under pressure from corporate raider Carl Icahn.

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