The wave of shareholder activism which has been a hot topic in US boardrooms for awhile is beginning to be felt in Australia. Roc Oil , Antares Energy, and Nexus Group have all been targets of investors in the last couple of weeks.

Antares last week said US-based Lone Star Value Management had asked for a meeting to replace two if its directors. Boards and their advisers are preparing for other US activist groups to play a more prominent role in Australia in trying to influence the outcome of mergers and takeovers and other strategic decisions.