Disney Looks Set to Win Proxy Fight. The Stock Is Dropping

Barron ^ | April 3, 2024 | Nicholas Jasinski

[Miami Rebel]

Walt Disney will hold its annual shareholder meeting in Burbank, Calif., on Wednesday at 1 p.m. ET. Usually a sleepy affair, this year’s meeting comes amid a high-profile proxy battle between the company and activist investor Nelson Peltz’s Trian Partners. Disney looks set to win the battle, but the stock is dropping anyway.

Disney was ahead in the still-underway voting on Tuesday with more than half of the votes counted, according to a Wall Street Journal report citing people familiar with the matter. Shareholders can still change their votes until the annual meeting closes.

Trian is agitating for changes at Disney that it says will boost free cash flow and improve returns. The company argues that its strategy is already working and that the hedge fund’s proposals are unnecessary and would be disruptive.

[suasponte137]

Im not a tucker fan myself...rush hour did me in on him, but Chris Rock or Kevin Hart would make hilarious dwarfs. any movie those guys make I generally watch, knowing its going to be funny...

[MinorityRepublican]

Now you see where I'm going with this. So there's actually potential here. I would pay $20 to see this.

Too bad Hollywood is so stupid that they're not going to be able to capitalize on this idea.

[SunkenCiv]

Disney defeats activist investor Nelson Peltz in proxy fight
[also Blackwells Capital, Institutional Shareholder Services, CalPERS, Neuberger Berman, Ancora]
Alexandra Canal
Senior Reporter
Wed, April 3, 2024, 4:00 PM EDT
https://finance.yahoo.com/news/disney-defeats-activist-investor-nelson-peltz-in-proxy-fight-172400941.html