Get the latest gossip
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.
Or read this on Deadline