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All of the following are true of a proxy contest except for: a. Proxy contest is usually more costly than tender offer. b. Are sometimes

All of the following are true of a proxy contest except for:

a.

Proxy contest is usually more costly than tender offer.
b.

Are sometimes designed to replace members of the board.
c.

Are sometimes designed to have certain takeover defenses removed.
d.

May enable effective control of a firm without owning 51% of the voting stock.

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