STT - Disney's Proxy Battle Enters Critical Phase Gains Ground Against Trian as Major Investors Back CEO Iger | Benzinga
Walt Disney Company (NYSE:DIS) gains traction in a proxy battle against Trian Partners as major investors back the entertainment giant.
BlackRock Inc (NYSE:BLK), Disney’s second-largest shareholder, with approximately 78 million shares, supports Disney in the battle for board seats. T. Rowe Price, holding around 9.3 million Disney shares, also pledges its support.
The support from major investors like BlackRock and T. Rowe Price is seen as a significant win for Disney CEO Bob Iger amidst efforts to resist Trian’s push for board representation amid a crucial turnaround phase.
Despite Disney’s current lead in the proxy battle, the outcome ...