Star Wars Creator George Lucas Pledges Support In Activist Battle: The Force Is With Disney
Portfolio Pulse from Chris Katje
George Lucas, the founder of Lucasfilm and the largest individual shareholder in Walt Disney Co (NYSE:DIS), has pledged his support to Disney in its ongoing activist battle. Lucas expressed his confidence in Disney and CEO Bob Iger, urging shareholders to vote for Disney's 12 directors at the upcoming annual meeting. This support comes amidst proposals from Nelson Peltz's Trian Fund Management and Blackwells Capital to add new members to Disney's board. Disney shares are trading near 52-week highs, indicating potential volatility as the April shareholder meeting approaches.
March 19, 2024 | 4:03 pm
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George Lucas, the largest individual shareholder, has pledged his support to Disney amid an activist battle, expressing confidence in the company and its leadership. This support is significant as Disney faces proposals to change its board composition.
Lucas's support for Disney and its leadership, especially ahead of the annual shareholder meeting, could positively influence investor sentiment and potentially deter the success of activist proposals to change the board. Given Lucas's status as the largest individual shareholder, his stance is likely to have a significant impact on other shareholders' decisions, possibly leading to a short-term positive movement in Disney's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100