The rare event in which a firm's existing directors and management compete with outsiders for the effective control of the corporation is called a
A)majority vote.
B)supermajority amendment.
C)proxy contest.
D)merger.

Question

Quizplus · Accepted Answer

A proxy contest is a rare event in which a firm's existing directors and management compete with outsiders for the effective control of the corporation. A majority vote and supermajority amendment refer to voting procedures for decision-making within a corporation, while a merger involves two companies joining together.

The Rare Event in Which a Firm's Existing Directors and Management