Tens of millions being spent to swing Procter & Gamble proxy vote
October 9, 2017
Nelson Peltz, the activist investor whose Trian Fund Management owns $3.5 billion of Procter & Gamble’s stock, wants a seat on the company’s board. Management at P&G, which opposes Mr. Peltz joining the board, claims the company’s turnaround plan, which is underway and showing results, would suffer a setback should he succeed in his bid. In the end, the two parties are expected to spend upwards of $100 million trying to influence shareholder votes one way or the other.
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