Nelson Peltz Reflects On Disney Proxy Battle's Aftermath: 'I Was Very Surprised'
Portfolio Pulse from Michael Cohen
Nelson Peltz, an activist investor, discussed the aftermath of his proxy battle with Walt Disney Co (NYSE:DIS) on CNBC, revealing a gain far exceeding the reported $300 million, hinting at a $1 billion gain. Despite positive feedback from a proxy adviser and extensive efforts to garner support from index funds, Peltz was surprised by their decision to vote against him. Disney CEO Bob Iger expressed relief over the end of the proxy fight, which he found distracting.
April 04, 2024 | 5:10 pm
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Nelson Peltz's proxy battle with Walt Disney Co (NYSE:DIS) resulted in a significant gain for Peltz, hinting at $1 billion, despite the opposition from index funds. Disney CEO Bob Iger found the battle distracting but is relieved it's over.
The news reflects a significant event in Disney's corporate governance, with Nelson Peltz revealing a substantial financial gain from the proxy battle. Despite the opposition from index funds, the resolution of this battle and CEO Bob Iger's relief could stabilize the company's focus on core business priorities. However, the mixed reactions from different stakeholders and the lack of a clear impact on Disney's operational or financial performance make the short-term stock price direction uncertain.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90