At Extreme Investor Network, we pride ourselves on bringing you the latest and most valuable insights in the world of business news. Today, we have some exclusive information about activist investor Nelson Peltz and his recent moves with Disney.
According to a person familiar with the matter, Nelson Peltz has made a significant decision to sell his entire stake in Disney. This move comes after Peltz sold all of his Disney stock at roughly $120 per share, making a profit of about $1 billion. Currently, the stock is trading at around $100 per share.
This decision to sell his stake in Disney follows a proxy battle that Peltz’s Trian Partners lost in early April. Despite seeking to elect himself and former Disney CFO Jay Rasulo to the company’s board, shareholders ultimately reelected the company’s full slate of board nominees.
Peltz has been a vocal critic of Disney’s governance, particularly targeting the company’s streaming strategy and a failed succession plan for CEO Bob Iger. Trian Partners issued a statement following the shareholder vote, expressing pride in their impact on refocusing the company on value creation and good governance.
Despite these recent developments, shares of Disney have seen an 11% increase so far this year, slightly outperforming the S&P 500. We eagerly await Disney’s response to these changes.
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