Archived Insight | November 21, 2017
In a surprising election upset, activist investor Nelson Peltz appears to have won a seat on the Procter and Gamble (P&G) board of directors. The Ohio-based consumer products company initially reported Peltz’s firm, Trian Fund Management, lost the proxy contest following the annual shareholder meeting on October 10.
An independent election inspector, IVS Associates, completed its vote tabulation several weeks after the meeting and reported that contrary to the initial tally, Peltz received more votes than incumbent director Ernesto Zedillo. Peltz’s victory came with a slim margin of 42,780 shares or 0.0016% of the 2.7 billion diluted shares outstanding. The results have not been confirmed and both sides may take the opportunity to take a last look at the ballots for any discrepancies.
The information and opinions herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. This article and the data and analysis herein is intended for general education only and not as investment advice. It is not intended for use as a basis for investment decisions, nor should it be construed as advice designed to meet the needs of any particular investor. On all matters involving legal interpretations and regulatory issues, investors should consult legal counsel.
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