Activist Investor Nelson Peltz Sells Entire Disney Stake For $1B After Losing Proxy Battle (UPDATED)
Portfolio Pulse from Benzinga Neuro
Activist investor Nelson Peltz has sold his entire $1 billion stake in Disney after losing a proxy battle. Peltz had been critical of Disney's governance and streaming strategy. Disney's stock closed 1.52% lower following the news.
May 30, 2024 | 7:07 am
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Nelson Peltz has sold his entire $1 billion stake in Disney after losing a proxy battle. This move follows his criticism of Disney's governance and streaming strategy. Disney's stock closed 1.52% lower following the news.
The sale of Peltz's stake and his criticism of Disney's governance and strategy could negatively impact investor sentiment. The stock's 1.52% drop indicates immediate market reaction.
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