JOURNAL ARTICLE

Disney Activists Double After ValueAct Amasses Stake.

  • Published In: Bloomberg.com, 2023. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Buckley, Thomas; Tse, Crystal 3 of 3

Abstract

ValueAct Capital Management has acquired a stake in Walt Disney Co., becoming the second activist investor to do so. This news has caused Disney shares to rise, as speculation grows about potential shareholder-friendly moves. While ValueAct's intentions are unknown, it is not working in conjunction with Nelson Peltz's Trian Fund Management LP, which previously acquired a $2.66 billion position in Disney. Peltz may seek board seats, and there is a possibility of conflict between the two activist investors if they both pursue board representation. Disney CEO Bob Iger has a friendly relationship with ValueAct CEO Mason Morfit, who is married to actress Jordana Brewster. ValueAct has a history of securing board seats at other companies, and Peltz is considering a proxy fight for board representation at Disney. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2023/11, pN.PAG
  • Document Type:Article
  • Subject Area:Biography
  • Publication Date:2023
  • Accession Number:173690542
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