A&M Activist Alert for Europe | Forecast and outlook for 2020
Exploring the forces that will shape shareholder activism across Europe in 2020 and beyond
ESG, Technology and the Next Wave of Activism
The fifth edition of the AAA report looks ahead to 2020 and identifies a changing activist landscape shaped by expanding activity across Continental Europe and the growing influence of Environmental, Social and Governance (ESG) considerations. The report highlights 158 companies at significant risk of activist attention and reveals a compelling relationship between ESG performance and activist vulnerability, with lower-rated companies more likely to attract investor scrutiny. Alongside a continued focus on industrial businesses, the report forecasts increased activist interest in the technology sector and a broader willingness to challenge companies traditionally viewed as difficult targets. It also examines how activists are increasingly influencing strategic transactions, governance decisions and capital allocation. Together, these themes point to a future in which activism extends beyond financial performance alone, compelling boards to balance operational improvement, governance effectiveness and sustainability considerations more carefully than ever before. |
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Whilst we do not publicly release individual company predictions, we would be delighted to discuss specific AAA modelling and analysis for any particular corporate with a senior member of the company.
Arrange a personalised de-brief with the A&M team by contacting a member of our team in your local region.
The A&M Activist Alert (AAA) reports provide a comprehensive analysis of shareholder activism trends across Europe and the United States, offering insights into evolving market dynamics, activist strategies, and corporate responses.
In 2026 we launched the U.S. AAA report, our first Activist Alert publication with a U.S. perspective. This inaugural U.S. edition explores the rise in activism post-2024 elections, the role of M&A, and the concept of an Equity Story—a strategic narrative that aligns corporate performance with investor expectations.
Click here to access the AAA Report for the United States.
