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Trian’s Disney Shares Have Gained $500 Million in Value So Far This Month. Why Is Activist Investor Nelson Peltz Still Unhappy?
Disney shares are up 16% in February, boosting Trian's holdings by $500 million. But activist investor Nelson Peltz is still agitating for change.
In a letter dated Feb. 12, the hedge fund said among other things that the Epic Games investment “lacks a product roadmap or expected return targets” and that the sports streaming venture with Fox and WBD “likely confused consumers, surprised important content partners and competes with the company’s own services.” “Your Board and management team remain committed to driving meaningful growth and creating sustainable shareholder value long into the future,” the Disney letter said, which recapped Iger’s earnings-day announcements. Peltz also said Trian will release a white paper, promised to be a deep dive with prescriptive proposals on how Disney can improve its long-term financial performance, in “a couple of weeks.”
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