Activist Investor Nelson Peltz Eyes New Push for Disney Board Seats –

Activist investor Nelson Peltz is reportedly looking to make another move on The Walt Disney Co. Peltz’s hedge fund Trian Fund Management has acquired more Disney shares, bringing its stake to over $2.5 billion. The fund is expected to request multiple seats on Disney’s board of directors, including one for Peltz. If Disney does not agree, Trian may nominate alternative directors ahead of the company’s annual meeting. Peltz had previously abandoned his attempt to win representation on Disney’s board after major cost cuts and initiatives were announced. The fund believes the Disney board should align better with shareholders.

Summery :

– Activist investor Nelson Peltz is making a renewed push for board seats at The Walt Disney Co.
– Peltz’s hedge fund Trian Fund Management has acquired further Disney shares, bringing its stake to over $2.5 billion.
– If Disney does not agree to their request for board seats, Trian may nominate alternative directors for the annual meeting.
– Trian believes that Disney’s board should align more with shareholders, as the stock has fallen significantly.
– Peltz previously abandoned his attempt for board representation after Disney announced cost cuts and other initiatives.
– It is unclear if former Marvel chairman Ike Perlmutter is involved in Trian’s new effort.
– Perlmutter was laid off from Disney in March and has been a friend of Peltz’s.
– Sanford C. Bernstein analyst Laurent Yoon has initiated coverage of the media and telecom sector, rating Disney as an “outperform” stock with a $103 price target.

Image Credit : The Hollywood Reporter

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