DIS - Disney's Largest Shareholder Vanguard Sides With Management In Proxy Fight Against Nelson Peltz | Benzinga
In a recent turn of events, investment management firm Vanguard has reportedly declared its support for Disney‘s (NYSE:DIS) management over activist investor Nelson Peltz in the imminent board vote.
What Happened: Vanguard, being Disney’s largest shareholder with a 7.8% stake, intends to back Disney’s current board and CEO Bob Iger against Peltz’s Trian Partners in the upcoming Wednesday’s board vote, CNBC reported. BlackRock, Disney’s second-largest shareholder, is also reportedly siding with the existing board.
This news has drawn criticism from investor Bill Ackman, who voiced his concerns about the alleged early release of voting information, arguing it could potentially skew the final vote.
The final call now rests ...