Coronavirus hurts corporate activism as M&A, buybacks decline

BOSTON (Reuters) - Activist shareholders are likely to scale back campaigns in coming weeks as target companies brace for a deep recession and their favorite calls for change - ranging from mergers to returning cash - are ignored during the coronavirus outbreak.The year started on a strong note with firms like Third Point and Elliott Management committing billions to push for change at 42 companies in January and February. But the pace fell 38% in March from February with only 16 campaigns..