Activist investors are expected to notch up a a record year this year, according to Moody's, which is expecting between 225 and 235 engagements at non-financial companies this year - beating last year's record total of 222. The total stood at 178 in October, compared with 165 during the same period last year, but Moody's is expecting a busy fourth quarter. Nearly 30% of the volume of activist engagements tends to take place in the fourth quarter, based on data from the last five years. Activist campaigns are concentrated at the end of the year because it gives activists sufficient lead-time to conduct, or at least threaten, a proxy contest in advance of the spring annual shareholder meeting season, Moody's said.
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