Switzerland Among Top Three Target Markets in Europe for Activists

Switzerland has seen a significant increase in activist campaigns compared to 2023, securing its place among the top three target markets in Europe. According to Alvarez & Marsal's "A&M Activist Alert" report, Switzerland accounted for 16% of all activist campaigns in Europe this year, up from 9% last year. Notable Swiss targets include Glencore plc and Chubb Limited.

While activist campaigns in Europe have decreased overall by 16%, Swiss corporates face heightened scrutiny. Smaller activists have become more vocal, with those managing under $2bn in assets launching 74% of this year’s campaigns. Environmental and social goals remain key focal points, although less so than in previous years.

The report forecasts 148 companies at risk of shareholder activism in the next 18 months. The anticipated resurgence in M&A activities is expected to drive further activism in consumer, energy, and materials sectors. Switzerland is predicted to see 14 companies at risk, following the U.K. and Germany.