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Mission Accomplished? Despite Losing Proxy Fight, Billionaire Nelson Peltz Reportedly Sells Entire Disney Stake For $1B In Profit
The activist investor, who waged a battle against CEO Bob Iger and the media company's board of directors, in large part because of the company's flagging stock price, has sold his entire stake at a hefty profit.
The activist investor waged a months-long campaign against CEO Bob Iger and the media company’s board of directors, ending in a decisive defeat at April’s annual shareholder meeting. As Iger sought to deliver cost reductions and streaming profits, while also trying to right a capsized movie ship and work through a host of other challenges, the stock sank to multi-year lows last year. Multiple media outlets, citing an unidentified source familiar with the transaction reported that Peltz’s firm, Trian Fund Management, unloaded its entire stake in Disney.
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