Peltz Must Target Retail Investors In P&G Fight

In a recent chat with The Street's Ronald Orol on activist Nelson Peltz and his target, Procter & Gamble Co, Thomas Ball, proxy and M&A managing director at Morrow Sodali, expressed his view on the activist campaign and on the company's hundreds of thousands of retail investors.

"They both know that retail investors can make or break Trian's campaign," he said "there are typically lots of retail investors in companies like P&G, where lots of people use their products."

"They will likely blast out a bunch of advocacy calls, but at some point based on the share size they will want to engage with investors one-on-one," Ball said "Retail investors will be more supportive of the company so getting on the phone really is important to gauge the amount of support."

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