When a group other than the current management team solicits the authority to vote shares as part of an effort to replace the current management team: Proxy fight
What is Proxy fight?
- A proxy fight, also known as a proxy contest or proxy contest, refers to a situation in which a group of a company's shareholders band together to oppose and vote against the current management or board of directors.
- A proxy fight, or proxy contest, or proxy contest, is an unfriendly struggle for control of an organization.
- This event usually occurs when a company's shareholders voice their opposition to aspects of corporate governance, often focused on directors and managers.
- A proxy fight is the act of a group of shareholders banding together to gather enough shareholder representatives to win a corporation's vote.
- This action is sometimes called a "proxy fight" and is primarily used for corporate takeovers.
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