Timeline: A Blow-By-Blow Guide to Procter & Gamble vs. Nelson Peltz

We take a look back at Nelson Peltz's proxy war against Procter & Gamble as P&G shareholders ultimately vote against Peltz.
Publish date:


February 14: Nelson Peltz's Trian Fund Management issued its regular quarterly securities disclosure, which included a new $529 million position in Procter & Gamble Co. (PG) - Get Report . That was followed by reports Trian's position grew to $3.5 billion.

July 17: Peltz nominates himself to P&G's board. He also launches a campaign aimed at convincing shareholders that P&G is underperforming it's S&P 500 peers.

August 28: Former Procter & Gamble CFO Clayton Daley backs Peltz's campaign. Daley became a paid adviser to Trian in July.

September 7:Trian issues trademark 93-page white paper seeking to restructure "insular" P&G into three business units.

September 11: P&G CEO David Taylor appears on Jim Cramer's "Mad Money," says Peltz is "dangerous" and would "eliminate" R&D.

September 14: P&G's 11th largest shareholder, Yacktman, urges P&G to include Peltz on its board.

September 22: Talking to The Deal, Trian's Josh Frank rejects assertion that Peltz wants to destroy P&G's R&D budget.

September 22: Glass Lewis, one of two major shareholder advisory firms, urges investors to back Peltz and his "cogent well-framed arguments."

September 25: P&G CEO David Taylor tells TheStreet that Peltz's campaign is a "rallying cry" to deliver outstanding results.

September 29: Institutional Shareholder Services gives Peltz a boost, saying he presents a "compelling case."

October 3: A.G. Lafley, former P&G CEO, comes out against Peltz, arguing that the investor's "game plan" involves "cost cuts, board and management shake ups, asset sales and break ups."

October 10: P&G shareholders ultimately vote against Peltz and re-elect all 11 incumbent directors.

Watch More with TheStreet: