Procter & Gamble Declares Victory in Proxy Battle; Peltz Says, Not So Fast
- 7 years ago
Procter & Gamble Declares Victory in Proxy Battle; Peltz Says, Not So Fast
In an interview on CNBC shortly after the meeting was adjourned, Mr. Peltz said the vote was “as close
to a dead heat as possible,” suggesting the totals were “plus or minus one percentage point.”
Mr. Peltz said the tallies he had seen from his proxy solicitor earlier in the morning showed that he was in the lead.
In a news release put out shortly after the meeting ended, Mr. Peltz, whose firm owns $3.5 billion worth of Procter
& Gamble stock, said he would await certified election results by the independent inspector of elections.
“I think the vote suggests shareholders are willing to trust David Taylor — for now,” said Ali Dibadj, an analyst at Bernstein Research, adding
that the company would lose credibility with its shareholders and others if the turnaround didn’t materialize soon.
In a conference call with investors and analysts after the meeting, Mr. Taylor said he had not seen the percentages behind the preliminary totals,
but believed the company’s message had resonated with the large base of small retail investors.
In an interview on CNBC shortly after the meeting was adjourned, Mr. Peltz said the vote was “as close
to a dead heat as possible,” suggesting the totals were “plus or minus one percentage point.”
Mr. Peltz said the tallies he had seen from his proxy solicitor earlier in the morning showed that he was in the lead.
In a news release put out shortly after the meeting ended, Mr. Peltz, whose firm owns $3.5 billion worth of Procter
& Gamble stock, said he would await certified election results by the independent inspector of elections.
“I think the vote suggests shareholders are willing to trust David Taylor — for now,” said Ali Dibadj, an analyst at Bernstein Research, adding
that the company would lose credibility with its shareholders and others if the turnaround didn’t materialize soon.
In a conference call with investors and analysts after the meeting, Mr. Taylor said he had not seen the percentages behind the preliminary totals,
but believed the company’s message had resonated with the large base of small retail investors.