Institutional investors aren’t afraid to tell companies that shareholders should be permitted to buy as many shares as they want as long as they don’t breach antitrust limits. At least that’s the view of MacKenzie Partners’ Bob Marese, who spoke with The Deal’s Activist Investing Today podcast about why a corporation may experience collateral damage when they install a poison pill in response to an activist. In a wide-ranging conversation, Marese offered up his views on why companies engaging in M&A should do more to prepare for activists. He also explained why Elaine Wynn was so successful in her “no vote” campaign at Wynn Resorts.