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Getting the Shareholder Vote

Learn about the rules governing shareholder voting, including the federal rules regulating proxy solicitation.

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Obtaining shareholder approval is a critical step in most M&A deals.

I. Shareholder Approval

The precise requirements for shareholder approval vary depending on the transaction's structure and the applicable state law.

As you may recall from our chapter on transaction structures, a vote of shareholder approval is inherently required in proxy contests. Similarly, the approval of both the acquiring and target companies’ shareholders is almost always required for mergers. Shareholder approval...