Hostile Takeover Tactics: Replacing the Board in a Proxy Contest

Activist shareholders may battle for control over a public company by launching a proxy contest to replace the existing board of directors and encouraging other shareholders to approve corporate actions proposed by the activist shareholders. When it comes to hostile takeovers, M&A counsel should be well versed in both offensive and defensive strategies. Timing and tactics are everything in a proxy fight. Follow sequential steps for a proxy contest in this Practical Guidance checklist.  

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