The shareholder activism team at Skadden, Arps, Slate, Meagher & Flom LLP draws on the firm’s broader M&A platform and advises on corporate governance, capital markets, SEC compliance, and related litigation matters. The group regularly represents boards facing hostile bids and activist-driven acquisition attempts, advising on investor base analysis, governance reviews, and the implementation of structural defenses, including shareholder rights plans and advance notice bylaws. The practice is led by New York-based Elizabeth R. Gonzalez-Sussman, a key advisor to both companies and activist investors on takeover defense and shareholder activism matters. Richard Grossman retired from the partnership in December 2025.
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Accolades
Client satisfaction: Lawyer & team quality
Client satisfaction: Billing & efficiency
Client satisfaction: Sector knowledge
Key clients
- Seven & i Holdings
- ESSA Pharma Inc.
- Air Products and Chemicals, Inc.
- Aspen Technology, Inc. (Special Committee)
- Barnwell Industries, Inc. (Special Committee)
- Brookdale Senior Living Inc.
- Caesars Entertainment, Inc.
- Edgar Bronfman, Jr.
- Honeywell International Inc.
- Logan Ridge Finance Corp. (Special Committee)
- Markel Group Inc.
- ON24, Inc.
- Performance Food Group Company
- The Middleby Corporation
- FTAI Aviation Ltd.
- FTAI Infrastructure Inc.
- ASA Gold and Precious Metals – 1940 Act Activism by Saba Capital Management, LP
- The European Smaller Companies – 1940 Act Activism by Saba Capital Management, LP
- Henderson Opportunities Trust PLC – 1940 Act Activism by Saba Capital Management, LP
- Nuveen Pennsylvania Quality Municipal Income Fund – 1940 Act Activism by Saba Capital Management, LP
Work highlights
Represented Seven & i Holdings Co., Ltd. in the unsolicited bid by Alimentation Couche-Tard (Canada).
Represented ESSA Pharma Corp. (Canada) in its letter from activist investors BML Capital and Soleus Capital Management to ESSA's board to liquidate the company.
Represented Air Products and Chemicals, Inc. in its proxy fight against Mantle Ridge who initially was seeking full control of the company and engagement with DE Shaw who also sought board seats.
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Practice head
Elizabeth Gonzalez-Sussman