Kirkland & Ellis LLP maintains a strong position at the top of the shareholder activism market, with a proven track record in high-stakes proxy contests. The practice advises companies and boards responding to activist campaigns and takeover situations, including negotiated settlements, board reconstitutions, and withdrawn contests. Shaun Mathew stands out for his experience across live proxy fights, hostile M&A, white squire transactions, and short attacks, advising companies from preparedness planning through negotiations and, where necessary, litigation. Evan Johnson focuses on advising registered funds, boards, and independent directors, including closed-end funds, drawing on extensive board-level experience in activism defense matters. Daniel Wolf combines M&A expertise for public and private companies and private equity sponsors with a focus on corporate governance, activism defense, and securities issues. The team was further strengthened in May 2025 by the arrival of Graham Robinson, Laura Knoll, and Chadé Severin from Skadden, Arps, Slate, Meagher & Flom LLP.
Legal 500 Editorial commentary
Accolades
Client satisfaction: Lawyer & team quality
Client satisfaction: Sector knowledge
Testimonials
Collated independently by Legal 500 research team.
- ‘The activism defense team is one of the best. They understand all aspects of contested proxy solicitations (legal, banking, PR, and proxy mechanics). They know how to read the room, which allows them to provide top-notch advice.’
- ‘I believe Shaun Mathew is a leading advisor in activism defense. I would trust him more than any other advisor on the Street. He understands my role almost as well as I do, which is extremely rare for an activism defense attorney, and he pays close attention to detail.’
- ‘The Kirkland team is highly experienced with large issuers and mindful of the numerous stakeholders involved in complex shareholder activism situations. While previously M&A-focused, the practice has developed a dedicated activism specialization under Shaun Mathew and Evan Johnson.’
- ‘The team handles high-stress situations effectively, including issuer crises, and draws seamlessly on the firm’s restructuring and litigation capabilities when needed.’
- ‘They are thoughtful about both offensive and defensive mandates and are known as determined advocates with excellent legal knowledge who go the extra mile for clients.’
- ‘Shaun Mathew is an expert in legal maneuvering, well versed in technical tactics and ready to do whatever is needed to protect client positions and counter activists.’
Key clients
- Amplify Energy Corp. (NYSE: AMPY)
- Arvinas, Inc. (Nasdaq: ARVN)
- Azenta, Inc. (Nasdaq: AZTA)
- Carvana Co. (Nasdaq: CVNA)
- Clear Channel Outdoor Holdings, Inc (NYSE: CCO)
- Coreweave, Inc. (Nasdaq: CRWV)
- E2Open Parent Holdings, Inc. (NYSE: ETWO)
- El Pollo Loco Holdings, Inc. (Nasdaq: LOCO)
- FTAI Aviation Ltd. (Nasdaq: FTAI)
- Hanesbrands Inc. (NYSE: HBI)
- KKR & Co. (NYSE: KKR)
- Kyndryl (NYSE: KD)
Work highlights
Advised Southwest Airlines Co in successfully resolving Elliott Management’s unprecedented special meeting proxy fight seeking to replace Southwest’s CEO and majority of its board.
Advised global investment firm KKR in its strategic partnership agreement with Henry Schein, Inc., the world’s largest provider of health care solutions to office-based dental and medical practitioners. KKR agreed to acquire an additional $250 million of common stock in a primary issuance from Henry Schein. Combined with its existing holdings, KKR became Henry Schein’s largest non-index-fund shareholder with a 12% position.
Advising Victoria’s Secret & Company in connection with two activist campaigns:|1) a shareholder activism campaign from BBRC International Pte Ltd. |2) a shareholder activism campaign from Barington Capital Group LP.
Lawyers
Leading lawyers: Advice to boards
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Next Generation Partners: Advice to boards
Junior partners with significant recognition from clients and peers in the market and key roles on multiple matters.
Other key lawyers
Shaun Mathew; Evan Johnson; Daniel Wolf; Graham Robinson; Laura Knoll; Chade Severin