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As the 2026 proxy season prepares to go into full swing, significant structural shifts are underway in the proxy voting ecosystem....
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Akin Gump
SF
Steven Franklin
Partner
Hong Kong, London, Hong Kong, United Kingdom
About me
Address: Hong Kong: Hong Kong; London: Eighth Floor, Ten Bishops Square, London E1 6EG
Areas of Focus: Mergers & Acquisitions; Shareholder Activism; Corporate Governance; Financial Restructuring; Corporate; Hedge Funds; Joint Ventures & Strategic Alliances; Litigation Finance; Capital Solutions
Biography:
Steven is a dual-qualified corporate lawyer recognized for his leading practice advising on high-value, complex and cross‑border corporate matters. His practice is anchored in deep industry insight, commercial judgment and significant experience guiding clients on complex transactions across equity and hybrid capital investments.
Leveraging over 15 years of experience across London and Hong Kong covering key markets and jurisdictions in Europe and Asia, Steven provides comprehensive legal and strategic counsel to investment firms, financial institutions and corporations.
Core to his practice, Steven leads engagements for some of the most prolific, experienced and well-known shareholder activists (and the growing number of engagement-focused investors), covering the full investment lifecycle, including: stake-building, trading and exit strategies, position disclosures and reporting obligations, private and public engagement, corporate governance, shareholder rights and meetings, as well as the transactional elements of campaigns, including navigating take-private regimes across multiple jurisdictions.
His experience spans arbitrage trades to high-profile event and target-driven public campaigns, including several landmark situations involving corporate titans such as Samsung, Toshiba, BHP, BP, LSEG, LG Chem, Toyota Industries and Rio Tinto.
Steven is a highly sought-after corporate problem solver across strategic and private equity investments—providing bespoke advice to clients on public and private cross-border mergers & acquisitions, joint ventures, shareholder activism and the corporate aspects of complex financial restructurings.
Steven has consistently received numerous industry honors. He is ranked as a Band 1 lawyer by Chambers UK for his notable work in the Shareholder Activism (Activist Representation) category. Clients and peers interviewed by Chambers highlighted how Steven’s “mastery of corporate law across jurisdictions melds with clear-cut analysis to deliver nothing short of commercial gold to clients,” with clients noting that Steven “always exceeds expectations in terms of quality of work, depth, and speed of execution.”
He was recently named among The Deal ’s Top Legal Advisers to Activists for his work advising activist investor Palliser Capital. Steven was one of 30 lawyers to be included in the Asian Legal Business (ALB)’s Rising Stars Hong Kong list, which spotlights lawyers in Hong Kong who are doing high-quality work and earning accolades from their colleagues, superiors and clients.
Representative Work:
- For more than 15 years, has co-led regular engagements for major investors across the Asia-Pacific and European strategic equity investments landscape, spanning pure arbitrage and other passive strategies to highly dynamic, public event and target-driven shareholder activism.
- Routinely provides activism and equity investment advice to Elliott Management, Palliser Capital, Farallon Capital Management, Oasis Management, Maven Securities, Ovata Capital and PLP Funds, among others.
- Has advised on notable campaigns involving investments and targets of significant scale and prominence, including the following: The proposed take private transaction of Toyota Industries Corporation, the world’s largest manufacturer of forklift trucks, by Toyota Fudosan Co. Ltd., the real estate arm of the Toyota Group. LG Chem, the largest chemical company in Korea. London Stock Exchange Group plc, a global provider of financial markets data and infrastructure. Toshiba Corporation, a leading multinational conglomerate across a number of sectors, including high-tech, infrastructure, and electronic devices. BP Plc, a global oil & gas supermajor. Keisei Electric Railway Co. Ltd., a major railway operator in Japan. Rio Tinto Group, the world’s second largest metals and mining corporation with a dual-listed company structure. Great Eastern, a leading life insurer in Singapore in relation to its proposed takeover by majority shareholder OCBC Bank. Tokyo Tatemono, a Japanese real estate development and management company. FTSE 250 Capricorn Energy Plc, including a campaign which involved changing the entire Board. The Bank of East Asia, one of the few remaining family managed and controlled listed banks in Hong Kong. Dai Nippon Printing, a leading Japanese automotive battery component supplier. SK Square, an investment arm of South Korean conglomerate SK Group. BHP Group, a multinational mining and metals corporation, in the context of a campaign to unify its previous dual-listed holding company structure. Toyo Tire, a Japanese tire manufacturer. Sumitomo Realty, one of the three largest real estate developers in Japan. Tokyo Gas, Japan’s largest gas utility company. SoftBank Group Corp, a leading Japanese telecommunications and technology conglomerate listed on the Tokyo Stock Exchange. Taiheiyo Cement, Japan's largest cement manufacturer. Mitsui Fudosan, the largest Japanese real estate developer listed on the Tokyo Stock Exchange. Samsung Group, in the context of the $8 billion merger between Samsung C&T and Cheil Industries. KKR’s proposed take-over of Hitachi Kokusai Electric. Ajinomoto Co. Inc., a Japanese multinational food and biotechnology corporation. Mitsui OSK Lines, one of the largest shipping companies in the world. Daikin Industries Ltd., a multinational conglomerate. Kansai Electric Power Company, one of the largest electric power companies in Japan.
- The proposed take private transaction of Toyota Industries Corporation, the world’s largest manufacturer of forklift trucks, by Toyota Fudosan Co. Ltd., the real estate arm of the Toyota Group.
- LG Chem, the largest chemical company in Korea.
- London Stock Exchange Group plc, a global provider of financial markets data and infrastructure.
- Toshiba Corporation, a leading multinational conglomerate across a number of sectors, including high-tech, infrastructure, and electronic devices.
- BP Plc, a global oil & gas supermajor.
- Keisei Electric Railway Co. Ltd., a major railway operator in Japan.
- Rio Tinto Group, the world’s second largest metals and mining corporation with a dual-listed company structure.
- Great Eastern, a leading life insurer in Singapore in relation to its proposed takeover by majority shareholder OCBC Bank.
- Tokyo Tatemono, a Japanese real estate development and management company.
- FTSE 250 Capricorn Energy Plc, including a campaign which involved changing the entire Board.
- The Bank of East Asia, one of the few remaining family managed and controlled listed banks in Hong Kong.
- Dai Nippon Printing, a leading Japanese automotive battery component supplier.
- SK Square, an investment arm of South Korean conglomerate SK Group.
- BHP Group, a multinational mining and metals corporation, in the context of a campaign to unify its previous dual-listed holding company structure.
- Toyo Tire, a Japanese tire manufacturer.
- Sumitomo Realty, one of the three largest real estate developers in Japan.
- Tokyo Gas, Japan’s largest gas utility company.
- SoftBank Group Corp, a leading Japanese telecommunications and technology conglomerate listed on the Tokyo Stock Exchange.
- Taiheiyo Cement, Japan's largest cement manufacturer.
- Mitsui Fudosan, the largest Japanese real estate developer listed on the Tokyo Stock Exchange.
- Samsung Group, in the context of the $8 billion merger between Samsung C&T and Cheil Industries.
- KKR’s proposed take-over of Hitachi Kokusai Electric.
- Ajinomoto Co. Inc., a Japanese multinational food and biotechnology corporation.
- Mitsui OSK Lines, one of the largest shipping companies in the world.
- Daikin Industries Ltd., a multinational conglomerate.
- Kansai Electric Power Company, one of the largest electric power companies in Japan.
Credentials:
Education: L.P.C., Nottingham Law School, England, 2009; LL.B., University of London, SOAS, 2008
Bar Admissions: Solicitor, England and Wales, 2012; Solicitor, Hong Kong, 2022
Recognitions:
- Chambers UK, Band 1, Shareholder Activism: Activist Representation, 2026.
- The Deal, Top Legal Advisers to Activists, Who’s Helping Whom H2 2025: Legal Advisers: Activists, February 2026.
- Asian Legal Business (ALB), Rising Stars Hong Kong, 2023.
- The Deal , Rising Star, 2021.
Affiliations:
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Insights:
- Akin Named Among The Deal's Top Legal Advisers to Activists in the First Half of 2026 (August 4, 2026): https://www.akingump.com/en/insights/media-mentions/akin-named-among-the-deals-top-legal-advisers-to-activists-in-the-first-half-of-2026
- UK Takeover Panel Proposes Miscellaneous Amendments to the Takeover Code (July 23, 2026): https://www.akingump.com/en/insights/alerts/uk-takeover-panel-proposes-miscellaneous-amendments-to-the-takeover-code
- Key Issues for Companies and Activist Investors Heading into the 2026 Proxy Season (February 19, 2026): https://www.akingump.com/en/insights/articles/key-issues-for-companies-and-activist-investors-heading-into-the-2026-proxy-season
- Akin Featured in The Deal’s Review of The Top Legal Advisers to Activists in The Second Half of 2025 (February 4. 2026): https://www.akingump.com/en/insights/media-mentions/akin-featured-in-the-deals-review-of-the-top-legal-advisers-to-activists-in-the-second-half-of-2025
- Chambers UK Recognizes Akin Lawyers and Practices in 2026 Guide (October 17, 2025): https://www.akingump.com/en/insights/awards-and-accolades/chambers-uk-recognizes-akin-lawyers-and-practices-in-2026-guide
- Steven Franklin Named a Hong Kong Rising Star 2023 by Asian Legal Business (March 23, 2023): https://www.akingump.com/en/insights/awards-and-accolades/steven-franklin-named-a-hong-kong-rising-star-2023-by-asian-legal-business
- Amendments to Concert Party Presumptions in the Takeover Code (March 22, 2023): https://www.akingump.com/en/insights/alerts/amendments-to-concert-party-presumptions-in-the-takeover-code
- What to Expect as the HKEx Rolls Out Its New SPAC Listing Regime (January 6,2022): https://www.akingump.com/en/insights/alerts/what-to-expect-as-the-hkex-rolls-out-its-new-spac-listing-regime
- The Deal Selects Steven Franklin and Ryan Kim as 2021 Rising Stars (January 25, 2021): https://www.akingump.com/en/insights/awards-and-accolades/the-deal-selects-steven-franklin-and-ryan-kim-as-2021-rising-stars-1
- Akin Gump Announces 2021 Partnership Promotions (January 4, 2021): https://www.akingump.com/en/insights/press-releases/akin-gump-announces-2021-partnership-promotions
- Global Banking Regulation Review Publishes Akin Gump Article on China Fintech (December 14, 2020): https://www.akingump.com/en/insights/media-mentions/global-banking-regulation-review-publishes-akin-gump-article-on-china-fintech
- China Fintech – the Beginning of a New Regulatory Era? (December 09, 2020): https://www.akingump.com/en/insights/alerts/china-fintech-the-beginning-of-a-new-regulatory-era