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After Losing Disney Proxy Fight, Nelson Peltz Claims About $1B In Profit On Stock Gains; Won’t Rule Out A Third Effort To Shake Up Board
Investor Nelson Peltz, who lost his proxy battle with Disney, said his firm has nevertheless made about $1 billion in profit from its Disney stake.
Disney’s lackluster stock performance, which saw it skid to multi-year lows last year, was one of the main complaints of Trian, along with the company’s approach to succession, streaming and movie production. Earlier on CNBC, Disney CEO Bob Iger had struck a constructive tone, saying the expensive battle had ended up bringing the company into closer touch with its shareholders. As one of those shareholders (Trian, in alignment with ex-Marvel chairman Ike Perlmutter, controls about $3.5 billion in Disney stock), Peltz is hoping for positive takeaways.
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