Nelson Peltz, the veteran activist investor, has taken a $3bn-plus stake in Procter & Gamble, the consumer-goods giant whose products range from Pampers nappies and Braun shavers to Fairy liquid.
A just-released regulatory filing shows that Mr Peltz’s Trian Fund Management had built a small stake in the company by the end of December. People familiar with the investment say additional buying since the new year has swollen to position to the point that it is now Mr Peltz’s largest single holding.
That signals that the investor intends to put pressure on the company to boost a share price that has languished for the past two years, although sources say that Trian has yet to reach out to the company with its suggestions.
P&G shares, which have risen 7.8 per cent over the past 12 months, bounced up 3 per cent in after-hours trading on Tuesday.