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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
This trend conventional international system as a central point and to clearly state in which reality was, with the proxy war may appear irreconcilable.
Speakers grappled at the notion of non-state actors and proxy wars as PIPS director Muhammad Amir Rana said non-state actors often evoked memories of violent elements.
BBC PERSIAN VIDEO REPOTAGE: Saudi Arabia has been recruiting thousands of Afghans for its proxy war in Yemen.
In an interview given to Sputnik news agency published on Friday, Tourjman said that there's a connection between al-Nusra and the US due to the new American policy in the region which is proxy war.
BJP on Tuesday said separatists in Kashmir were fighting a proxy war against India.
Pakistan has already participated in the conflict in Yemen, which many describe as a proxy war between Iran and Saudi Arabia.
Tehran said yesterday's "deliberate" attack - which could lead to a regional proxy war - wounded a number of guards and damaged its embassy in the capital Sanaa.
Mumford argues that both state and substate actors have been historically drawn toward proxy war because it is, in a nutshell, a rational option used to secure preferred strategic outcomes while simultaneously avoiding the consequences and risks of direct engagement.
Summary: President Obama says he doesn't want to turn the Syria conflict into a proxy war.
She told that the country was going through a critical phase and its sovereignty had been entangled adding 35 years ago Pakistan had been forced to plunge into Afghan-Soviet war that was actually a US-Soviet proxy war fought in Afghanistan.
WASHINGTON, Rabi'II 29, 1436, February 18, 2015, SPA -- The United States said Tuesday that it was not in Ukraine's or the world's interest to get into a proxy war with Russia over eastern Ukraine.
Right when he was warning the nation about the possibility of an Indian proxy war against Pakistan on Afghanistan soil our army chief was briefing the U.S.