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P&G Hits Back at Peltz, says Investor not Entitled to Board Seat

4-traders : one website, all markets

Procter & Gamble blasted Nelson Peltz's efforts to join the consumer goods conglomerate's board, saying the investor was not entitled to a seat and that he was being wrongly advised by people who were not in tune with the company's operations. P&G's salvo comes weeks after Peltz's Trian Fund Management sought a board seat for the activist investor at the company, making P&G the largest company ever to face a proxy battle...

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