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Next large investor announcement in Disney by end of 2024
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Story
Nelson Peltz Sells Entire $DIS Stake After Proxy Battle, Earning $1 Billion
May 29, 2024, 09:46 PM
Activist investor Nelson Peltz has sold his entire stake in Disney ($DIS) following a recent proxy battle defeat, according to a report by CNBC. Peltz's investment firm, Trian Partners, dissolved its Disney holdings, which included 32 million shares, at approximately $120 per share, earning about $1 billion. The sale comes weeks after Trian's unsuccessful attempt to elect Peltz and Jay Rasulo to Disney's board. Disney shares were down 0.7% following the news. The proxy fight at Disney also involved significant legal expenses.
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Media company • 33%
Technology company • 33%
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Higher • 33%
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Unchanged • 33%
Increase stake in current holdings • 33%
Reduce stake in other major holdings • 33%
Invest in new sectors • 34%
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Decrease > 10% • 33%