Vista Current Coverage

Has Activist Investor Peltz Lost His Proxy Battle with Procter & Gamble?

View Disclaimer

Activist Investor Nelson Peltz has apparently lost his proxy bid to gain a board seat on Dow 30 component and Cincinnati, OH-based Procter & Gamble (PG) as reported by Reuters as a preliminary tally has voted down his initiative. Nelson Peltz’s fund Trian, a $14 billion New York-based hedge fund, owns ~$3.5 billion of PG, which currently enjoys a total valuation of ~$230 billion. This proxy battle was also reported as the largest and most expensive on record.

To learn more about Procter & Gamble (PG) and to track their progress please the Vista Partners Company Dedicated Page.

Procter & Gamble declares proxy war victory, Peltz refuses to concede

Trian Fund Management LP CEO Peltz refused to concede defeat, saying the vote had been too close to call and that the company would await the certified results. Sources said the difference in for and against votes for Peltz’s board director nomination was within one percentage point…

finance.yahoo.com

Read Full Article