Proxy Contest
type: Class
preferred label: Shareholder Voting Contest
alternative label: Proxy Battle
alternative label: Proxy Fight
alternative label: Proxy War
subclass of: R89lVNu8g1yMPFfyEkk8npj
definition: A proxy contest is a struggle for control of a company where opposing factions of shareholders seek to gather enough proxy votes to win a corporate election or effect significant corporate decisions. This often occurs during annual meetings when shareholders vote on the election of directors or other major corporate issues.
example: The 2008 proxy contest between activist investor Carl Icahn and Yahoo's board of directors.
example: The 2009 proxy fight at Canadian Pacific Railway led by hedge fund Pershing Square Capital Management.
example: The battle for control of Procter & Gamble in 2017, where Trian Fund Management sought to place its nominee on the board.