In proxy contests,outsiders compete with the firm's existing management and directors for control of the corporation.

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Proxy contests involve outside parties attempting to gain control of a corporation by competing with the existing management and board of directors. This process typically involves soliciting shareholder votes through the use of proxy statements and other corporate governance mechanisms. The goal of a proxy contest is generally to replace current leadership with individuals who are seen as better suited to running the company or pursuing a particular strategic direction.

In Proxy Contests,outsiders Compete with the Firm's Existing Management and Directors