proxy fight
noun [ C ]
ukus(also proxy battle, proxy contest) FINANCE
a situation in which a group of investors that wants to take control of a company tries to persuade shareholders of that company to vote at shareholders' meetings in a way that helps the investors achieve what they want:
Three directors fought their way onto the board last year in a proxy fight, charging that the firm was poorly run and needed new management.
launch/wage/mount a proxy fight Investors have threatened to wage a proxy fight to replace the current board of directors.