DIS - Losing Fight With Disney Nets Nelson Peltz A $300M Payday But Experts Say It Was 'A Grand Waste Of Time' | Benzinga

The long-standing proxy battle between The Walt Disney Company (NYSE:DIS) and billionaire activist investor Nelson Peltz has come to an end, yielding a $300 million profit for Peltz’s hedge fund, Trian Partners.

What happened: The Wall Street Journal reported on Thursday that Trian Partners garnered an estimated $300 million from its 16-month proxy war with Disney. This figure is based on information from anonymous sources. The majority of this wealth is in paper form, according to the report.

In February 2024, Peltz made a paper profit of approximately $154 million after buying 9.4 million Disney shares. This coincided with a surge in Disney’s stock following a restructuring announcement by CEO Bob Iger, expected to save the company about $5.5 billion by cutting 7,000 jobs. Trian subsequently withdrew from its initial proxy battle against Disney.

Despite not winning the two board seats he aimed for, Peltz seems to view the outcome positively. “Since we reengaged with the company last October, Disney’s stock is up about 50% and is the Dow’s best performer here to date,” he said.

See Also: Full story available on Benzinga.com