- Business Insider
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Nelson Peltz has been thwarted in the largest proxy battle in history, failing to claim a seat on the board of the $236 billion giant Procter & Gamble.
Preliminary results on Tuesday showed that Peltz, the founder of the $14 billion hedge fund Trian Partners, lost the proxy fight by a slim margin against P&G, the maker of consumer products like Tide, Crest, and Bounty and the largest-ever company to face such a challenge. Shares dropped after the preliminary results were released.
Trian quickly announced its disagreement with the vote count by P&G, which is led by CEO David Taylor, and is calling for a recount.
Elsewhere in deal news, Express Scripts is buying a healthcare benefits manager for $3.6 billion. JPMorgan and Singapore’s wealth fund led a $100 million investment in a Silicon Valley fintech. A $5 billion Silicon Valley VC is getting back into biotech and looking to back “iconic entrepreneurs.”
And lawmakers are taking aim at pharma giant Allergan over an unusual deal with a Native American tribe.
Business Insider’s Matt Turner recently caught up with David Hunt, President and CEO of fund giant PGIM, to ask him about the stock market, the Trump trade, and the future of money management. PGIM has more than $1 billion in assets invested around the world. Here’s what he had to say.
The world’s investing heavyweights are falling in line to make a decision that will cost them millions – and it is terrible news for stock analysts.
Walmart is using the oldest trick in the book to boost its stock price, announcing that it has authorized up to $20 billion in stock buybacks over the next two years. The stock hit its highest point in two years after the announcement.
Puerto Rico stands “on the brink of a massive liquidity crisis that will intensify.” Here’s how Puerto Rico got into so much debt.
A crypto company took out an ad in the Wall Street Journal to poke fun at Jamie Dimon.
Lastly, a CNN reporter married a hedge fund heir in the South of France – and the photos are unreal.