Vanguard chooses Iger over Peltz in Disney proxy battle: report

At Extreme Investor Network, we pride ourselves on providing valuable insights and unique perspectives on the latest business news. Today, we bring you an exclusive look into the upcoming board vote at The Walt Disney Company, where tensions are running high between major shareholders.

According to Bloomberg News, Disney’s largest shareholder, Vanguard, is set to support management over Nelson Peltz’s Trian Partners in the upcoming board vote. Vanguard, which owns 7.8% of Disney shares, is joined by BlackRock, the second-largest shareholder with 4.2% of shares, in siding with the incumbent board and CEO Bob Iger.

This development has stirred controversy, with onetime activist investor Bill Ackman criticizing the leaked reporting on shareholder voting. Ackman took to social media to highlight the importance of keeping voting results confidential until the annual meeting, as premature leaks can influence the outcome.

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Despite Peltz’s efforts to garner support from smaller shareholders like Neuberger Berman and CalPERS, the backing of major players like Vanguard and BlackRock could be a significant setback for his bid to join Disney’s board. With only a few hours left for retail investors to cast their votes, the outcome of the board vote remains uncertain.

To add to the intrigue, Disney has enlisted the support of prominent figures like JPMorgan Chase CEO Jamie Dimon and Star Wars creator George Lucas in its bid to maintain current leadership. The shareholder meeting is scheduled to commence tomorrow at 1 p.m. ET.

Stay tuned for the latest updates on this developing story. Extreme Investor Network is your go-to source for exclusive insights and analysis on the world of business news. Don’t miss out on the action – subscribe now for premium content and expert commentary on the latest market trends.

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