Definition
A proxy solicitor is a specialty firm hired to communicate with shareholders, identify large holders, and (in proxy contests) solicit voting commitments. In a tender-offer context, the proxy solicitor is typically called the information agent.
Functions
- Identify holders and their holdings
- Distribute offer materials (or vote materials in a contest)
- Run support / opposition campaigns to gather tendering / voting commitments
- Track real-time tendering progress and projected outcomes
- Coordinate with custodians, brokers, DTC
Why it matters
In contested tender offers and proxy fights, the proxy solicitor’s ability to reach holders quickly and communicate persuasively is often outcome-determinative. Specialist firms (Innisfree, Okapi, MacKenzie, D.F. King) handle most U.S. public-company contests.