Shares of retailers and other consumer-services companies rose amid deal maneuvers in the consumer staples area. Shares of Procter & Gamble rose after activist investor Nelson Peltz said his firm would seek a seat on the consumer-products giant's board. Trian Management Fund has argued that P&G failed to capitalize on a five-year savings plan that shrank the company by tens of thousands of employees, more than a dozen factories and hundreds of brands and is questioning the efficacy of a second such plan. Another consumer-products company, Church & Dwight, said it will buy Water Pik, the maker of dental-care products, for $1 billion in cash from private-equity firm MidOcean Partners.
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(END) Dow Jones Newswires
July 17, 2017 16:35 ET (20:35 GMT)