Challenging public markets transaction

The challenge:

fowlstone was brought in to work with a high-profile listed entity on a restructuring transaction. The matter was highly sensitive and politically charged for a large segment of shareholders.

There was a high risk of an opposition campaign from minority shareholders, and several high-profile opponents. There was considerable potential for this small group of shareholders to mount a campaign that could block the whole transaction.

Communicating the benefits of the transaction was a particular challenge, given the highly vocal objections from this small group.

fowlstone’s approach:

Our approach was to frame the debate early through front-foot communications direct to key audiences, articulating the benefits of the transaction.

Our strategy was to over-communicate with the small group of shareholders to ensure that they felt heard and supported as the transaction progressed.

We sought to identify third-party endorsers and to deploy them in the debate, driving support for the transaction.

Another important part of the strategy was to demonstrate that the transaction did not undermine the ongoing business in any way.

The results:

The transaction proceeded without any formal objection, and has been well-received by the market since.