The Annals of Activism, 2012
Two of the year’s biggest battles — and two of the smallest
Netflix
Market value: $5.3 billion
On Oct. 31, Carl Icahn disclosed that he had built up a 10 percent stake in the company, saying Netflix should sell itself. The video streaming service says it suspects Icahn plans a takeover attempt and has adopted a poison pill that would make an acquisition more expensive.
AOL
$2.6 billion
In June, AOL’s board staved off a takeover attempt by Starboard Value, which owned more than 5 percent of AOL shares and objected to the company’s content strategy. Since then, AOL appointed a chief operating officer to reorganize the company, and shares are up 21 percent.
Greektown Superholdings
$7.7 million
Brigade Leveraged Capital said the Detroit casino’s board wasn’t doing enough to counter declining market share. The fund failed to get the votes it needed to elect a new director to the board.
Rumson-Fair Haven Bank & Trust
$16.8 million
Hedge fund manager George Hall successfully ousted Chairman William Barrett and secured a seat on the board of this community bank. Hall’s fund, Clinton Group, said the bank was too conservative in its lending and was leaving profitable business on the table.