As a P&G shareholder and NKY/Greater Cincinnati resident, this is big (and IMO bad) news. Peltz' agenda includes restructuring the brand offerings, downsizing the workforce, and relocating P&G headquarters out of the Cincinnati area.

 

The economic impact of this to the area could be staggering IMO.

 

Trian Billionaire Activist Nelson Peltz Wins P&G Proxy Battle

 

Activist hedge fund manager Nelson Peltz claimed victory in his fight to win a seat on Procter & Gamble Co's board after a preliminary tally of votes was released on Wednesday, but P&G refused to concede and said it wants to see a certified result before declaring a winner.

 

Shares of P&G, the world's largest consumer products maker by market value, rose more than 3 percent in after-hours trading, indicating some investors welcome Peltz's effort to shake up the company's management and improve financial results.

 

A new preliminary vote tally prepared by independent election inspector IVS Associates after four weeks of recounting from last month's proxy contest showed Peltz won by 43,000 shares voted out of 2.6 billion, according to a source.

 

That leaves Peltz with a margin of victory of 0.002 percent of outstanding shares, which analysts said is so slim it could easily flip again.

Wow. Can't imagine Cincinnati without P&G.

Wow. Can't imagine Cincinnati without P&G.

 

Same here. Who knows if it'll actually happen, but it's on his list.

Moving P&G out of Cincinnati would be crippling to the tristate area. What would the logic be behind moving it out of the area?

Moving P&G out of Cincinnati would be crippling to the tristate area. What would the logic be behind moving it out of the area?

 

Here's an article that goes a little more in-depth on what he wants to do.

 

I guess he's not really wanting to move the corporate HQ, just reduce it by 90%...

 

Peltz: Shrinking Corporate Staff by 90% Won't Decimate Cincinnati

How much support does he have on the board? He's not going to accomplish anything without a lot of support.

Ugh. Was very relieved when he looked to have lost his bid for a seat last month.

 

So it goes.

 

I agree with UKMF that this isn't good for Greater Cincinnati. This guy is here to drive up the stock price. Long-term consequences are not on his agenda.

That would eliminate a lot of good paying jobs in the area. Would have a drastic economic impact.

Ugh. Was very relieved when he looked to have lost his bid for a seat last month.

 

So it goes.

 

I agree with UKMF that this isn't good for Greater Cincinnati. This guy is here to drive up the stock price. Long-term consequences are not on his agenda.

 

Yep.

 

My understanding is he comes in, stays 2-3 years and does whatever is necessary to drive up stock prices then cashes out, resigns and liquidates his shares. Which is great for him and those who are able to time it right, but awful for the long-term success and future of the company.

They said on the radio this morning during the first vote count, he lost his bid by over 6 million votes. Now he is over by 43000. Over a 6 million vote swing? This will be in the courts for years.

Yep.

 

My understanding is he comes in, stays 2-3 years and does whatever is necessary to drive up stock prices then cashes out, resigns and liquidates his shares. Which is great for him and those who are able to time it right, but awful for the long-term success and future of the company.

 

Anything to add more wealth to that 1%.

They said on the radio this morning during the first vote count, he lost his bid by over 6 million votes. Now he is over by 43000. Over a 6 million vote swing? This will be in the courts for years.

 

Considering there were 2.6 billion votes cast, that could easily be a flip of just one or two large stakeholders.

Prediction... If Peltz wins and gets a seat on the board, there will be another vote at next year's annual meeting to get rid of him. If Peltz wants to win and stay on board, he will need to tread lightly at least for this first year until he can get himself and his ideas more entrenched.

Considering there were 2.6 billion votes cast, that could easily be a flip of just one or two large stakeholders.

 

Very true, im sure they were bought votes as well.

Very small shareholder here, but I must have received 5/6 solicitations requesting my proxy to vote for him. Each contained negative communications of underperformance and plans to increase profits by slashing costs. Readers/shareholders could have easily been confused by the proxy solicitations as to whether you were supporting management or him. Sure the big shareholders were careful not to be confused. IMO, this is probably not good for Cinti or emploees.