Heinz Says CalPERS to Back Its Proxy Fight
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H.J. Heinz Co. said the California Public Employees’ Retirement System, or CalPERS, the largest U.S. public pension fund, would vote its 1.66 million Heinz shares to reelect all 12 members of the company’s board.
Heinz said CalPERS’ support reinforced the food company’s position in its proxy fight with investor Nelson Peltz and his Cayman Islands-based hedge fund.
“This strong vote of confidence from CalPERS affirms that Heinz has the right board, the right plan and the right management team to drive shareholder value,” Heinz spokesman Michael Mullen said.
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