P&G Says Shareholders Elect All Eleven P&G Directors; Nelson Peltz Not Elected

P&G Says Shareholders Elect All Eleven P&G Directors; Nelson Peltz Not Elected

The pricey campaign - both sides said they spent $60 million, combined, and experts say the total will likely cross the $100 million mark - illustrates the amounts blue-chip corporations will spend to defend themselves against increasingly aggressive activist investors.

P&G announced the preliminary results of the vote late Tuesday morning at the conclusion of the company's annual shareholder meeting - saying all 11 of its board nominees were selected.

Peltz's Trian Fund Management, which owns about $3.3 billion in company shares, says that the company has underperformed its peers for a decade. "The board of directors for Procter & Gamble is extraordinarily committed to not only the short- and mid- but also the long-term success of the company".

Hundreds of shareholders are expected to descend on the Tide maker's Cincinnati headquarters on Tuesday for the closely watched vote.

Maharashtra, Gujarat cut Value-Added Tax on petrol and diesel
In Maharashtra , petrol and diesel prices are trading near Rs 80 per litre and Rs 61 per litre - which is at three year high. On July 1, the prices of petrol and diesel in the national capital were Rs 63.09 and Rs 53.33 per litre respectively.

"We'll wait for the actual numbers to come out". For its part, Trian believes the vote is too close to call and is waiting for the results to be independently certified, with the WSJ reporting Trian will challenge the vote.

Despite Peltz' apparent defeat, P&G CEO David Taylor said the company would continue to work with Peltz.

Proctor and Gamble is up 8% this year.

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