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.
Recent News
Fashion Retailer Express Files for US Bankruptcy Protection
The retailer is expected to close almost 100 stores nationwide.
Nationwide Health Alert for E. Coli in Greater Omaha Ground Beef
There is no recall for this product. It should be thrown away or returned to point of purchase.
Delta Air Lines Increases Pay as Unionization Attempts Continue
Delta Air Lines is upping the pay for its nonunion workers, including flight attendants and ground staff, as it faces another unionization attempt.
TikTok Faces EU Ban and Fines Over TikTok Lite
European Union officials are considering hefty fines and the suspension of TikTok Lite due to concerns about its addictive features. TikTok Lite is a scaled-down version of TikTok that offers users cash rewards for engaging with the app.