Consumer giant Procter & Gamble Co. climbed in early trading after Nelson Peltz’s bid for a board seat took a stunning turn, as an independent inspector said the billionaire investor actually won his proxy fight.
The official preliminary results showed that P&G shareholders have elected Peltz to the company’s board, his Trian Fund Management LP said in a statement Wednesday. The activist investor won by about 42,780 shares -- or a margin of about 0.0016 percent -- according to the results tallied by the independent inspector IVS Associates Inc., P&G said in a statement.
