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P&G investor Yacktman says to vote for adding Peltz to board


(Reuters) - Investment advisory firm Yacktman Asset Management said it would support the addition of Trian Fund Management LP's Nelson Peltz to Procter & Gamble Co's board and criticized the company for engaging in "a costly and distracting proxy fight" with the activist investor.Peltz, whose fund is P&G's fifth-largest shareholder, has been locked in a prolonged battle with the maker of Gillette razors and Tide detergents and has been pushing for a seat on the company's board.Yacktman said it owned $1.3 billion worth of P&G shares and cited Peltz's sizeable stake in P&G and his experience ...

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First Published: Thu, September 14 2017. 22:06 IST