Kirkland M&A Update Kirkland & Ellis LLP

M&A Update: Looking Ahead to the Future of Proxy Access

In this M&A Update, partner Daniel Wolf discusses the SEC's May 20 vote to propose a comprehensive set of rules governing proxy access. Although the full text of the proposed rules has not yet been made public, with the change of administration and SEC leadership in Washington, D.C., it is likely that the SEC will enact rules that allow shareholders meeting certain minimum ownership and other criteria to nominate directors for election directly in the company’s proxy statement, rather than being required to use the traditional proxy-contest method of sending their own proxy statements.