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Disney Has Enough Votes to Defeat Activist Investor Nelson Peltz’s Board Candidates: Report
Disney won enough votes for its board candidates to successfully defeat Nelson Peltz's Trian hedge fund, per an unconfirmed report.
Disney had won enough of the shareholder votes cast for its 12 board candidates as of Tuesday evening to successfully defeat an aggressive, months-long proxy fight waged by Nelson Peltz ‘s Trian hedge fund, Reuters reported, citing anonymous sources. Index fund manager Vanguard, which owns 7.8% of Disney’s outstanding share, planned to vote for the Mouse House’s candidates over Trian’s nominees, Bloomberg News reported Tuesday, citing anonymous sources. On Tuesday, a T. Rowe Price spokesperson confirmed to Variety that more than 99% of the shares the asset-management firm owns have voted for all of Disney’s recommended nominees, including the two incumbent directors — Maria Elena Lagomasino and Michael Froman — whose board seats are being challenged.
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