The Wall Street Journal reported in the early hours of Monday morning that activist Investor Trian Fund Management LP was ready to rumble with Proctor & Gamble Co. The prize? Securing a single board seat and shareholder vote for investor Nelson Patz. With a market value at $222 billion, P&G is the largest company to face a proxy fight.
The Financial Times reports that State Street Global Advisors, the third-largest asset manager in the world, has asked the Securities and Exchange Commission to prevent companies from adopting the controversial voting structures that give founders more power than shareholders.