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Procter & Gamble claims narrow win over Peltz in proxy challenge

Peltz refused to concede defeat, saying the vote was too close to call before the certified results are released

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Procter & Gamble

Reuters 

Procter & Gamble Co said on Tuesday activist hedge fund manager Nelson Peltz lost his fight to win a seat on the company's board, according to a preliminary tally of shareholder votes in the biggest and most expensive proxy contest ever. Peltz, whose Trian Fund Management LP owns a $3.5 billion stake in the world's largest consumer products maker by market capitalisation, refused to concede defeat, saying the vote was too close to call before the certified results are released. Sources said the difference in for and against votes for Peltz's board director nomination ...

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First Published: Wed, October 11 2017. 08:25 IST
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