from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- n. a measure used by an acquirer to gain control of a takeover target; acquirer tries to persuade other shareholders that the management of the target should be replaced
Sorry, no etymologies found.
I was part of Icahns dissident slate the first time he tried the proxy fight route, years ago, trying to make U.S. Steel spin off Marathon Oil; he was right but gave up.
The answer is the capital marketif managers diverge so far from shareholder profit maximization that a hostile tender offer or a proxy fight is a sound investment, then here comes Icahn.