Activist investors "of all sizes" are campaigning for companies to buy rivals or break themselves up, according to a new report from JPMorgan's M&A team - a development that could lead to companies doing deals "potentially at the wrong price and time".

The Wall Street bank published its report on the 2017 proxy season, 'Globalization and a new normal for shareholder activism', on Wednesday, written by its global M&A team led by co-heads Hernan Cristerna and Chris Ventresca.