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June 15, 2018
Cadwalader partner Steve Fraidin was a featured guest on Bloomberg TV’s Deals Report yesterday, commenting on the recent AT&T/Time Warner decision, other M&A activity and shareholder activism. Watch the interview with Bloomberg reporter Ed Hammond here.
Fraidin, who joined Cadwalader recently after serving for three years as Vice Chairman at Pershing Square following a storied M&A career at Fried Frank and Kirkland & Ellis, told Bloomberg that “there are some interesting dynamics going on right now” in the M&A space. Turning his attention to the AT&T/Time Warner decision, Fraidin said, “If the government continues to aggressively go after major transactions in ways that predecessor administrations did not attack these transactions, then I think that has to have some inhibiting effect. On the other hand, the government may have learned its lesson from this resounding defeat.”
Fraidin also commented on the environment for activism and the current relationship between activists and corporate boards. “We’re going to see less drama and more progress,” he said.