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Peltz, defending P&G proxy fight, says he doesn't know how to spell 'lose'

  • Peltz tells CNBC he wants P&G to reorganize around three distinct global businesses.
  • P&G says his plan would result in higher costs and lower profit.
Nelson Peltz
Patrick T. Fallon | Bloomberg | Getty Images
Nelson Peltz

Activist investor Nelson Peltz on Friday defended his campaign to shake up Procter & Gamble.

"I don't even know how to spell 'lose,'" he said in an interview on CNBC, responding to a question about his hedge fund's proxy fight to get a seat on the board of the consumer product giant.

Peltz's Trian Partners, which owns a $3.5 billion stake in the company, released a 93-page outline of his proposals for P&G on Wednesday. He wants the company to reorganize around three distinct global businesses, dividing household, personal and family care products in an effort to streamline operations and revive market share for some of its premiere brands, such as Gillette razors.

P&G says Peltz's plan would result in higher costs and lower profit.

Peltz told CNBC he isn't suggesting an outright breakup of the company. "We want to run a series of smaller connected businesses that are faster moving and more fit to compete," he said.