Trian to Launch Proxy Fight Against P&G

CNBC Events- Season 2014

Nevertheless, the activist investor will now be seeking support from other shareholders and could highlighted the stock's poor performance over the years.

Trian also claimed the company's market share had deteriorated as organic sales growth had decelerated and that it needed to take further action beyond selling off unprofitable brands.

"I am quite surprised and very disappointed because I think David (Taylor) and I have developed a very positive relationship", Peltz told CNBC, when asked if he was surprised that the dialogue had turned into a proxy fight.

With P&G's annual meeting usually held in October, the two sides have roughly three months to continue to discuss ways to avoid a shareholder vote on Peltz, who if elected would boost the board to 12 members.

Trian says that Peltz will nominate the director that he replaces, which would expand the Board to a new total of 12 members.

Sensex consolidates on gains, Nifty rangebound; both finish in green
The stock rallied as much as 1.76 percent intraday to hit a high of Rs 1,558, the highest level since January 17, 2008. Positive trading in most Asian markets and China's robust economic growth in June quarter boosted market sentiment.

PG stock was up slightly as of Monday morning.

Trian, which describes itself as one of P&G's largest shareholders, said the Cincinatti-based consumer goods group had suffered "disappointing results over the past decade" and that it wanted to "help the company address the challenges it is facing". "We just can't keep going along the same path", he said.

The consumer goods giant, whose products include Crest toothpaste and Gillette razors, has struggled in recent years to win over Wall Street analysts anxious by increased competition and declining market share, particularly in the United States.

Trian and Procter & Gamble Co were close to reaching an agreement that would allow Peltz to join the Board if public goals weren't met, but the discussions fell apart in May. P&G have reportedly been in talks for five months, but the company is said to have rejected to name Peltz as a director last week.

However, it does want to bring change to the company, which includes cutting cost and management.

Related News:

  • McConnell defers vote on Senate health care bill

    McConnell defers vote on Senate health care bill

    McCain had announced earlier on Saturday that he would not be in the Senate next week, depriving Republicans of a key vote. In recent days GOP leaders have expressed optimism that they were getting closer to a version that could pass the Senate.
    KEA CET 2017: Karnataka Common Entrance Test Second allotment result released

    KEA CET 2017: Karnataka Common Entrance Test Second allotment result released

    As per the rules of the counseling and allotment , candidates were required to chooses and take ownership of the options provided. Keep in mind that the last date for reporting to the allotted institute is July 2 (Friday), up to 5.30 pm.
    Texans rookie RB D'Onta Foreman arrested on drug, weapon charges

    Texans rookie RB D'Onta Foreman arrested on drug, weapon charges

    The Texans said the organization was aware of the situation and is gathering additional information, according to a statement. D'Onta appreciates the professionalism of the officers involved in his arrest and in his booking at the Travis County Jail.
  • Dhawan to replace injured Vijay for Sri Lanka

    Dhawan to replace injured Vijay for Sri Lanka

    The right-hander has been asked to continue with his rehabilitation program after complaining of wrist pain during a match. On the other hand, Murali Vijay has not played any competitive cricket since the end of the Australia Tests.
    Google Maps now showing travel time graph to destinations over the day

    Google Maps now showing travel time graph to destinations over the day

    Google has incorporated a new feature to Google Maps which will tell users the best time to leave for a destination. The new feature will show a graph of the expected, and current actual travel time to any searched destination.
    Several seriously injured after unmanned boat circles out of control

    Several seriously injured after unmanned boat circles out of control

    Effinger was later released on bond from the Steuben County Jail, according to Indiana DNR Law Enforcement, NBC News reported . Two people were flow by medical helicopter from the lake shore after being rescued by onlookers, according to the DNR.
  • Coast Guard aircrew rescues three from capsized boat in Menlo Park

    Coast Guard aircrew rescues three from capsized boat in Menlo Park

    The Coast Guard rescued a mother and her ten-year-old daughter caught in rip tides near Baldhead Beach and Oak Island Saturday. Officials say the boat, a 32-foot-long recreational boat named Finale , burst into flames at some point before 10 a.m.
    Panasonic Launches P55 Max With 5000 mAh Battery

    Panasonic Launches P55 Max With 5000 mAh Battery

    Another highlight of the device is that it comes with a 13MP rear camera with Quad LED flash, a rarity in the price range. Panasonic has launched a new smartphone in India that has a massive 5,000 mAh battery and is priced economically.
    NASA's spectacular flyover video transports you to Pluto

    NASA's spectacular flyover video transports you to Pluto

    The space probe is now venturing further into the Kuiper Belt , a huge area containing "objects", mostly composed of ice. The spacecraft will on January 1, 2019 will get closer to a Kuiper Belt object known as 2014 MU69 , NASA said.
  • Jason Gillespie considered applying for Indian cricket team's coaching job

    Jason Gillespie considered applying for Indian cricket team's coaching job

    Arun had earlier served as the national team's bowling coach during Shastri's stint as India team director during 2014-16. First, there was drama and confusion over the selection of the head coach of the Indian cricket team.
    Jordanian soldier convicted in killing of 3 American troops

    Jordanian soldier convicted in killing of 3 American troops

    The U.S. soldiers were killed November 4 when their convoy came under fire at the entrance of an air base in southern Jordan. Jordan is a member of a USA -led military coalition against Islamic State group extremists in neighboring Syria and Iraq.
    Bob Wolff, legendary sports broadcaster, dies at 96

    Bob Wolff, legendary sports broadcaster, dies at 96

    Wolff was born in New York City on November 29, 1920, and began his broadcasting career in 1939 as a student at Duke University . Wolff remained the play-by-play announcer for the Senators until 1960 when the franchise moved to Minnesota to become the Twins.


Most liked

Uber driver dies after attack on vehicle in South Africa
We have a team of former law enforcement professionals who are working with the Police to support their investigation. The driver was in his auto when it was torched outside Loftus Versveld in Pretoria five weeks ago.

Samsung, PayPal ink strategic partnership
Since Samsung's mobile payments service has MST and NFC support, it can work with nearly all card terminals in supported markets. At PayPal, we've seen - and helped enable - a major shift to mobile.

HS2 seeks guarantee on crisis-hit Carillion
But critics have warned that this will mean that homes on the new Shimmer housing estate in nearby Mexborough will be bulldozed. With preparatory works already underway on phase one, the DfT says main construction work will start in 2018/19.

3 years on, families commemorate loved ones lost on MH17
Russian Federation has denied the accusations and denounced the investigation's findings as politically biased. The monument is close to Amsterdam's Schiphol Airport, from which MH17 departed on its way to Kuala Lumpur.

Speeding SUV crashes into roof of St. Louis home
East Alton, IL (KTRS) The Major Case Squad is investigating the death of an East Alton man. Louis , Missouri , flew off of a hill and crashed on top of a roof on Sunday (16 July).

Analysts See $-0.16 EPS for Covanta Holding Corp (CVA)
Analysts are expecting EPS growth rates to be at -106.10% this quarter and EPS estimate for next year reflect 280.00% growth rate. This change led market cap to move at $1.84B, putting the price -19.58% below the 52-week high and 6.15% above the 52-week low.

Automatic Data Processing (ADP) Stake Cut by Nichols & Pratt Advisers LLP MA
The company was reinitiated on Thursday, October 22 by Wells Fargo. (NYSE:PEP) on Thursday, April 14 to "Hold" rating. The stock of Automatic Data Processing (NASDAQ:ADP) has "Hold" rating given on Monday, January 30 by Stifel Nicolaus.

Top midfielder to sign £200000-a-week contract with Man United
Retrounited reported last week that Herrera is set for a huge pay rise on his current deal to ward off interest from Barcelona . After all, Herrera paid up his contract at his previous club to move to the Premier league and join Manchester United .

Equities Analysts Issue Forecasts for Carnival Corporation's Q3 2017 Earnings (CCL)
Corporation (VFC) stock price has gone up by 0.05% over the last 20 trading days, and its price is -14.31% below the 52-week high. It is positive, as 45 investors sold CCL shares while 198 reduced holdings. 87 funds opened positions while 185 raised stakes.

Why Nitish can't vote for Kovind
There are specific coloured ballot boxes to be used for voting - MPs to cast vote in green ballots and MLAs in pink ballots. The term of present incumbent Pranab Mukherjee comes to an end on the 24th of this month.

Qatar hits out at UAE over Al Jazeera 'hacking'
Global allies such as the United States are anxious that the row could affect coalition counter-terrorism efforts against Isis. It is not clear if the UAE government's intelligence agencies carried out the hack or hired contractors to do so.

Congress leaders vow support to Meira Kumar
MIM has 10 votes.This includes that of Hyderabad parliamentarian and party president, Asaduddin Owaisi. AIMIM has seven MLAs in Telangana and two MLAs in Maharashtra.

Trump's approval rating is 50 percent in counties that voted for him
Trump, who has spent the weekend at his private golf club in Bedminster, New Jersey , attempted to downplay the poll's findings. Forty-eight percent say America is weaker than it had been before Trump took office, with only 27 percent saying it's stronger.

Microsoft may strand some Windows 10 users on unsupported Anniversary Update
Now the error to download new version occurs when users try to install Creators Update on an HP Envy X2. Microsoft has cut support for select 2-in-1 PCs sold in 2013 and 2014, ZDNet reported .

Woj reports Blazers interested in trade for Carmelo Anthony — NBA rumors
The decision for GM Daryl Morey? "There hasn't been a day that's gone by that me and James haven't talked", Paul said. The average price of a haircut and beard trim among the top 10 Houston barbershops on Yelp sits at about $37.