Procter & Gamble (PG - Get Report) is recommending shareholders vote against billionaire Nelson Peltz in his quest for board seats.

"If you have a longer-term view of how Procter has done, then you have to vote for Peltz - that's pretty simple," said TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer. "If you have a shorter-term view of how [CEO David Taylor] has done then I think you want to give the company a pass and not have Mr. Peltz on."

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