(Reuters) Procter & Gamble Co repelled a challenge from activist investor Nelson Peltz for a board seat on Wednesday after shareholders backed all 11 directors nominated by the U.S. consumer goods company’s management. Peltz had been seen as the favorite to win the contest, because he had the backing of all three top shareholder advisory firms, which recommend how mutual funds should cast their vote, and was only seeking one board seat on P&G’s 11-member board.
Hedge Fund Chief Nelson Peltz Loses Bid for P&G Board Seat
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