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March 14, 2019
Cadwalader partner Stephen Fraidin was one of the industry leaders profiled in “New Year, New Team,” a special feature in the March issue of Activist Insight that described key team additions in the corporate and shareholder advisory space.
Fraidin, widely recognized as one of the country’s leading M&A lawyers, represents major corporations and investment funds, special committees and boards of directors in connection with acquisitions, mergers, proxy contests, corporate governance engagements and other matters. He is a member of Cadwalader’s Corporate Group in New York.
The Activist Insight profile chronicled Fraidin’s move to Cadwalader from Pershing Square Capital Management, where he served as Vice Chairman for three years. He noted that, with his more than 40 years on the law firm side and his more recent time in asset management, he is able to provide “experience from both sides of the table.”
Fraidin also told Activist Insight that his focus at Cadwalader is on M&A, activism defense and corporate governance. “I feel fortunate to be at Cadwalader because this is such a high-quality firm,” he said. “I think we supply both companies and activists with a more balanced approach.”
The Activist Insight profile referenced Cadwalader’s recent activism work at Destination Maternity, where the firm advised on a full-board sweep, and work on behalf of D.E. Shaw. Fraidin noted that, in recent years, corporations have adopted a more measured and rational response to activism -- at the same time as activists have rewritten parts of their playbook. “Activists are developing more nuanced, subtler ideas that are, to a greater extent, focused on the long-term value of the businesses they’re invested in,” he said.