Reporter Dan Monk on why Procter & Gamble proxy fight is bound to be tight

Nelson Peltz has 60 million shares in his pocket on the eve of Procter & Gamble Co.’s annual meeting. He’ll need about 1.1 billion more than that to win a board seat at P&G, based on WCPO’s analysis of voting trends at P&G’s last three annual meetings. WCPO looked at the number of shares voted in P&G board elections from 2014 to 2016. Directors, running unopposed, consistently earned about 1.8 billion shares each year, all of them securing about 97 percent of all shares voted. But in all three elections, less than 80 percent of shares actually submitted a vote.