Tag Archives | Nelson Peltz

What Would Alexander Hamilton and Wilma Soss Think About the P&G Proxy Fight?

With activist investor Nelson Peltz of Trian Partners making an intense and expensive play for a seat on the board of troubled Proctor & Gamble, the past six months have witnessed the largest proxy battle, and perhaps the oddest one, in U.S. history. In October, it appeared to be over, as the relieved P&G management declared Peltz to be the loser based on its preliminary count of proxy votes.

The drama, however, took an unusual turn in November when Peltz announced that an independent vote count revealed that he indeed had won a seat on the board, albeit by the thinnest of thin margins. Whether Peltz truly succeeded in winning the battle will undoubtedly be hotly contested by P&G. But whatever happens, it is worthwhile at this juncture to put the Peltz play in some historical perspective. What would Founding Father Alexander Hamilton and pioneer “corporate gadfly” Wilma Soss think about the P&G proxy fight? Continue Reading →

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Who Says Activist Investors Have Struck Out?

The passing US proxy season made lots of business headlines as the most turbulent ever (which I’ve found happens every year). But 2015 was still notable for the flood of activist initiatives targeting company boards of directors. Activists sought “no” votes on directors who set executive pay, or said no to stock buyback, dividend, or spinoff plans. They nominated their own candidates for board seats, sometimes even whole board slates. They generally caused a ruckus. Continue Reading →

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