PROXY FIGHTS: War of the Noses

Business, as every boardroom veteran knows, is an extension of war by more gentlemanly means. When titans collide, the noises of battle rarely escape carpeted corridors, and body counts are concealed in footnotes to the annual report. Today there is a revival of a more visible form of corporate clash: the proxy fight. Already this year, at least a dozen proxy suits have been filed with the Securities and Exchange Commission. At that rate, the alltime record of 21 in 1958 is almost certain to be eclipsed.

Battles are under way for control...

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