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Walt Disney Co has secured enough shareholder votes to defeat a challenge against its board mounted by Nelson Peltz's hedge fund Trian Fund Management, people familiar with the matter said on Tuesday.
Disney's largest shareholder, index fund manager Vanguard, plans to support management over Nelson Peltz's Trian Partners in Wednesday's board vote, Bloomberg News reported Tuesday, citing unnamed people familiar with the matter.
In 2015, Nelson Peltz's Trian Partners was defeated in an activist campaign against chemical firm DuPont, largely because the top three institutional shareholders voted against his slate. Nearly a decade later, those same institutional investors — Vanguard, State Street and BlackRock — are the three largest shareholders in Disney. And they could make or break Peltz's campaign against the board that's backing Disney CEO Bob Iger.
In 1994, a captain of the media and entertainment industry saw something in Dana Walden that made him think she was capable of a bigger role.
Filmmaker and Hollywood legend George Lucas is throwing his support behind Walt Disney CEO Bob Iger in the bitter proxy battle between the company and activist investor Nelson Peltz.
Activist investor Blackwells said Monday that Disney's board had not disclosed that shareholder ValueAct Capital had a financial relationship with the entertainment company, putting the firm's endorsement of Disney's board under scrutiny.
NEW DELHI - Charter jets for tycoons and celebrities, a performance by Rihanna and directions to don "jungle fever" outfits when visiting an animal rescue centre - that's how billionaire Mukesh Ambani is kickstarting big fat Indian wedding celebrations for his son.