Proxy Fight

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Proxy fight

Often used in risk arbitrage. Technique used by an acquiring company to attempt to gain control of a takeover target. The acquirer tries to persuade the shareholders of the target company that the present management of the firm should be ousted n favor of a slate of directors favorable to the acquirer, thus enabling the acquiring company to gain control of the company without paying a premium price.

Proxy Fight

Competition of outside group with management for stockholders' proxies in order to accumulate votes to elect a new board of directors.

Proxy Fight

A situation in which two investors (usually two companies) compete with one another in the attempt to gain the proxy votes of shareholders in a third company. The two investors engage in the proxy fight because both wish to have enough proxy to elect a new board of directors that will effectively do whatever the investor wants. The winner of a proxy fight, if any, is able to control the third company through the board of directors and does not need to directly acquire it, though many often do anyway.

proxy fight

A contest among two or more opposing forces to solicit stockholders' proxies and, in effect, to gain control of the firm through the election of directors. It is usually quite difficult to wrest control from the existing management through a proxy fight, but the tactic has been used, for example, by some suitors in takeover attempts.
References in periodicals archive ?
In view of these proxy wars where Shia Islam led by Iran is at war with Sunni Islam led by Saudi Arabia, we see a replay of the Shia/Sunni animosity that rocked the Muslim world after the late Imam Khomeini overthrew the Pahlavi regime dynasty in 1979.
It does not want a proxy war between Iran and the United States on Afghanistan.
It alone has the power to authorize or declare a war of the magnitude toward which we may be headed because of proxy wars about which the American people know next to nothing.
To involve Pakistan in a proxy war with our neighbour, behind the backs of our parliament, is an outrageous decision and needs to be backtracked.
Somewhat fantastically, the United States finds itself in a similar predicament in its anti-Assad proxy war vis-a-vis another former al-Qaeda affiliate, al-Nusra Front.
Today, he said, the country is being threatened by proxy wars.
According to a statement, PTI's Core Committee observed that this growth in sectarian killings is clearly a part of proxy wars being fought on Pakistani soil.
Alluding to the upcoming US withdrawal from Afghanistan, Mushahid expressed his apprehensions about possible eruption of proxy wars in the country.
Visiting Afghan President Hamid Karzai, calling India a friend and Pakistan a twin brother of Afghanistan, Thursday voiced strong aversion to proxy wars in his conflict-devastated country.
Afghans are weary of the proxy wars of the superpowers, and then the regional players.
The General said the region is suffering from proxy wars, and reiterated that the army is fully ready to defeat any type of enemy in any kind of proxy war.
The statement claimed that Saudi Arabia, UAE and Iran have made Pakistan a testing site for their proxy wars but our government shall ensure that it protects its citizens against all such conspiracies and interventions.