The big news this week is that Nelson Peltz’s Trian Fund Management and Procter & Gamble are set to collectively spend the record sum of $60 million to fight each other in a proxy battle. Everything is relative in this world, and with annual sales of $65 billion, P&G may well be considered to be spending a reasonable amount to defend itself from Peltz’s attempt to join the company’s board. After all, we are talking about the largest firm by market capitalization to ever face a board challenge. [munger variation=”moat”] Also read: Proxy Monitor 2017 – Finding: Climate Change Proposals Break…
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