Accounting consolidation makes many complex companies look simpler than they really are. This is important given the way the market relies on consolidated data for valuation purposes.
Value can be released by restructuring – changing strategy, capital structure, capital expenditure plans – but overcoming inertia requires support from multiple stakeholders since shareholders generally have limited
influence over the largest companies.
This includes regulators, politicians, unions, journalists and other stakeholders whose influence can, at times, be greater than that of any group of shareholders.
Knight Vinke specializes in building such coalitions based on the quality of its analysis, its network of institutional contacts and the credibility associated with its 15 year track record – rather than the size of its holdings.