(election of directors and votes on fundamental changes), federal law grants shareholders additional voting rights. But these …'s shareholders. It finds firms alter the structure of their acquisitions to avoid shareholder voting. On its own, this finding could … shareholders' expense. Yet this Article finds no difference in returns to acquisitions that require a shareholder vote and those …

breaks out, shareholders wield immense influence. These contests tend to have significant benefits for the corporation … uncontested director elections, shareholders' decisions to vote for or withhold their vote reflect the company's performance. The … suggests that shareholders seriously scrutinize management proposals, instead of blindly following management. ISS and …