DIS - Nelson Peltz responds to ValueAct Blackwells backing Disney
2024-01-03 11:49:28 ET
Walt Disney Co (NYSE: DIS) is in focus this morning after ValueAct Capital said it will back the entertainment conglomerate in its proxy fight with Trian Fund Management.
Nelson Peltz says it’s irrelevant
Also on Wednesday, Blackwells Capital – another activist investor revealed plans of nominating three members to Disney’s board who would support the company’s strategy as well.
But none of it is sufficient for Nelson Peltz (founder of Trian) to change his stance, as per his interview with famed investor Jim Cramer.
I just spoke with Nelson Peltz. He’s saying this is not influencing his decision. He’s not even going to accept anything where he’s just invited to the board periodically. He wants to be at the table.
Disney shares are currently down more than 20% versus their 52-week high.
Watch here: https://www.youtube.com/embed/EpEysg5YI2U?feature=oembedPeltz is not happy with Disney CEO
Trian Fund Management is not content with the leadership of CEO Bob Iger as the “shareholder return is abysmal”.
The activist hedge fund will nominate Nelson Peltz and a former finance chief of mass media giant to Disney’s board at its 2024 annual shareholder meeting that’s scheduled for March.
Walt Disney Co is scheduled to report its first-quarter financial results in February. Consensus is for it to earn $1.01 per share versus 99 cents per share a year ago.
On Wednesday, Jim Cramer also said on “ Squawk on the Street ” that anyone who is currently happy with the Disney stock is “brain dead”.
The post Nelson Peltz responds to ValueAct, Blackwells backing Disney appeared first on Invezz