http://truthonthemarket.com/2006/04/13/six-flags-to-reimburse-red-zone-solicitation-expenses/ Academic commentary on law, business, economics and more Wed, 15 Feb 2012 08:05:47 +0000 hourly 1 http://wordpress.com/ http://truthonthemarket.com/2006/04/13/six-flags-to-reimburse-red-zone-solicitation-expenses/#comment-5732 Fri, 14 Apr 2006 17:47:41 +0000 http://www.truthonthemarket.com/2006/04/13/six-flags-to-reimburse-red-zone-solicitation-expenses/#comment-5732 [...] That’s all well and good, but looking at the data from Red Zone’s recent successful proxy contest at Six Flags makes the assertion that the proposed rules may result in more proxy contests laughable.  As noted in this post, Red Zone spent $11.6 million on the contest.  Of this amount, $36,000 was for the cost of preparing, printing and mailing proxy materials and subsequent communications to stockholders.  Obviously, potential savings of a few bucks on a proxy contest expense line item that constitutes less than one half of one percent of the total cost will not have any bearing on whether or not someone chooses to lauch a proxy fight.  Further, given an insurgent will be battling to overcome rational shareholder apathy, it may not even make strategic sense to go the e proxy route.  [...]

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