Proxy fight
Proxy fight is an attempt to take over a company in which an outside group solicits existing shareholders' proxies, which are authorizations to vote shares in a shareholders' meeting, in an effort to overthrow management and take control of the business.
Definitions
According to Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition),
- Proxy fight. An attempt to take over a company in which an outside group solicits existing shareholders' proxies, which are authorizations to vote shares in a shareholders' meeting, in an effort to overthrow management and take control of the business.
According to Fundamentals of Financial Management by Eugene F. Brigham and Joel F. Houston (15th edition),
- Proxy fight. An attempt by a person or group to gain control of a firm by getting its stockholders to grant that person or group the authority to vote its shares to replace the current management.
Related concepts
- Financial management. A combination of enterprise efforts undertaken in order to procure and utilize monetary resources of the enterprise.
