Predatory Hedge Fund “Engine No. 1” Targets Exxon for Takeover

While so-called “activist investors” can sometimes accomplish good things (like the Rice boys in their takeover of EQT last year), it is our observation that most “activist investors” are destructive. A new hedge fund calling itself Engine No. 1 is one such destructive company. The hedge fund, based in San Francisco (which explains a lot) has ExxonMobil in its sights, attempting a hostile takeover of the company by getting four of its own candidates named to the board, and after that, forcing Exxon (an oil company) to forsake oil drilling and focus on “clean energy.”

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