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P&G Says Trian Lost Proxy Fight For Board Seat

Law360, New York (October 10, 2017, 11:27 AM EDT) -- Procter & Gamble said its investors voted Tuesday to elect all 11 of the consumer goods company’s directors, marking an end to the closely watched proxy contest that Trian Fund Management LP fought in an effort to get Nelson Peltz, the activist hedge fund’s CEO and founder, a seat on the board.

Following its annual shareholder meeting, P&G said the preliminary results of the vote show that all of its nominees were elected and that Peltz would not be joining the board of directors. The consumer goods company lauded the outcome in a statement.

“We are encouraged that shareholders recognize P&G...

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