P&G investor Yacktman says to vote for adding Peltz to board

Sept 14 (Reuters) - Investment advisory firm Yacktman Asset Management expressed its support for adding Trian Fund Management LP's Nelson Peltz to Procter & Gamble Co's board and criticized the company for engaging in "a costly and distracting proxy fight" with the activist investor.

Yacktman said it owned $1.3 billion worth of P&G shares.

Trian, P&G's fifth-largest shareholder, has been locked in a prolonged battle with the consumer products conglomerate for months, raising investor hopes of a break-up of the company. (Reporting by Gayathree Ganesan in Bengaluru; Editing by Anil D'Silva)