"Consider a wealthy investor named John Adams $($a made$-$up name$).$ John Adams attempts to gain control of a publicly traded company "Twatter" via a proxy fight. Suppose John Adams had amassed a $14\%$ stake in the firm and offered to buy the remainder for $$12\mathrm{.}4$ billion. He was rejected by management. He launched a proxy fight that he ultimately lost."

Answer the two questions below and reply to ONE post from your classmate:

Who benefits in proxy fights in this case? Explain your reasoning.

Whose interests does the management of a publicly traded company, such as Twatter, represent? Explain using the example of Twatter and John Adams.

Please answer both questions.