3 April 2025
Embera Partners was mandated as strategic shareholder and activist defense advisor, focused on shareholder risk intelligence and capital markets engagement in SES’s defence against activist proposals by Appaloosa LP and Atlas Infrastructure Partners concerning capital returns, governance, and board structure. We delivered real‑time shareholder analytics and segmentation, mapping institutional vs. retail voting blocs, and assessed investor risk profiles to support campaign targeting and messaging strategy. Installed as tactical liaison to both bidder and board teams, Embera advised on shareholder risks, communications, framing of talking points, and sequencing of public engagements to neutralise Appaloosa’s non‑binding resolutions on capital returns. Enabled constructive dialogue with Atlas on their agenda item supporting capital return policy alignment, with Embera’s insights informing SES’s decision to endorse Atlas’ proposal and secure shareholder support.
