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P&G Plans to Vote Against Angry Wella Investors

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By: TOM BRANNA

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Procter & Gamble told angry Wella minority shareholders on Tuesday it would vote down three key motions filed by rebel investors still trying to fight its 2003 takeover of the German hair care firm, according to a Reuters report. P&G holds almost 100% of Wella voting rights and about 80% of its share capital.Amid heckling by shareholders, P&G’s representative at a shareholder meeting in Frankfurt said the consumer goods giant did not need a so-called domination agreement, a ...

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