CINCINNATI, Ohio — Initial voting results show Procter & Gamble successfully fending off an attempt by activist investor Nelson Peltz to capture a seat on its board, though he did not immediately concede, saying it was too close.
Peltz’s Trian Fund Management, which owns about $3.5 billion in P&G shares, said moments after the Tuesday vote that it would await certified results, which appeared to have been decided by a razor-thin margin.
Almost 40 percent of P&G shareholders are small investors, and the final result appeared to pit them against institutional investors that backed Peltz.
