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Wielding clout to get their way

US public pension funds are behaving like activist investors to make companies comply with their wishes as major shareholders

ACTIVIST investors like Carl C Icahn, Daniel S Loeb and William A Ackman are getting deep-pocketed imitators. Some of the biggest public pension funds, which have sought to influence companies for years, are now starting to emulate these investors by engaging with, and sometimes seeking to oust