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Lazard CEO Jacobs Says Activism ‘Here to Stay’ After Dow, Xerox

  • Lazard is advising on Dow-DuPont deal and Xerox split
  • Jacobs says long-only investors, index funds are more engaged
Ken Jacobs.

Ken Jacobs.

Photographer: Michael Nagle/Bloomberg

Shareholder activism that’s spurring companies to pursue mergers and spinoffs will continue as institutional investors keep a closer eye on management, Lazard Ltd. Chief Executive Officer Ken Jacobs said.

“Activism is here to stay,” said Jacobs, whose firm is advising Dow Chemical Co. in its agreement to merge with DuPont Co. as the chemicals maker fends off activist Dan Loeb. “It’s just a form of investing that had some positive results for shareholders,” Jacobs said in an interview Tuesday. Lazard is also working with Xerox Corp., the document-technology company that reached an accord with activist Carl Icahn to split into two companies.