Nelson Peltz Sells Entire Disney Stake for $1 Billion After Proxy Battle Loss

May 29, 2024, 10:02 PM

Activist investor Nelson Peltz has sold his entire stake in Disney following a recent proxy battle defeat. According to CNBC reports, Peltz's investment firm Trian Partners sold the shares at approximately $120 per share, generating about $1 billion. This sale comes weeks after Peltz's unsuccessful attempt to secure board seats at Disney. Disney's stock has since dropped to around $100 per share. Walt Disney shares are down 0.7% following the news.