November 22, 2017 / 6:03 PM / a month ago

Breakingviews - P&G’s battle with Peltz is practically poetic

DALLAS (Reuters Breakingviews) -

Procter still digs in with Peltz,

With hubris but nothing much else.

Insularity remains,

Causing new corporate stains,

As the board waits for fresh Trian welts.

It isn’t that Peltz pushed too hard:

The campaign started without much petard.

He sought simply a seat.

But was met with conceit

From an entrenched group of clubby blowhards.

P&G’s David Taylor attacked.

“How dare this New Yorker fight back?

Our earnings are strong.

Stock returns coming along.

Advice, fine. But a seat he shall lack.”

Taylor claimed a victory with haste.

Yet a fresh count laid that plan to waste.

Now it seems Peltz has won,

Taylor’s unraveling begun.

The board continues to nervously pace.

Yet shareholders are big losers still.

The board wastes their time and the till.

Just stop the charade,

Unman the barricades.

That board seat is one Peltz should fill.

Breakingviews

Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.


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