Skadden has once again collaborated with Activistmonitor to produce the eighth annual report on activist investing in Europe. Following a year of new challenges — the war in Ukraine, the return of inflation and an energy crisis — issuers should be prepared for a rise in shareholder activism over the next 12 months. As they navigate an increasingly fraught economic environment, companies will likely encounter activists pushing for significant governance changes, operational improvements, reduced costs and new growth opportunities, not to mention increased demands on the ESG front.