WHEN: Today, Wednesday, May 13th
WHERE: CNBC's "Squawk Box"
Following is the unofficial transcript of breaking news from CNBC's David Faber.
All references must be sourced to CNBC.
DAVID FABER: WANTED TO UPDATE PEOPLE ON OF COURSE THE PROXY FIGHT OVER DUPONT THAT IS TAKING PLACE. WE HEARD FROM MARY THOMPSON EARLIER. WHILE THE VOTES COULD CHANGE, AT THIS POINT, IT DOES APPEAR, ACCORDING TO SOURCES, THAT DUPONT IS GOING TO WIN ITS PROXY FIGHT WITH TRIAN. MEANING THAT THE FOUR NOMINEES PUT UP BY TRIAN WILL FAIL TO SECURE ENOUGH VOTES INCLUDING NELSON PELTZ TO ACTUALLY BE PUT ON THE BOARD OF DUPONT. NOW, IN THESE SITUATIONS, VOTES CAN CHANGE UP UNTIL THE VERY LAST MOMENT, THAT MOMENT IS FAST APPROACHING. BUT WE DID WANT TO PASS ALONG THE FACT THAT IT DOES – SOURCES DO SEE THEM WINNING. IT APPEARS THE INDEX FUNDS VOTED AGAINST TRIAN AT THIS POINT. DISOBEYING THE PROXY ADVISORY FIRMS. VERY CLOSE. WE WILL HAVE MORE ON "SQUAWK ON THE STREET."
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