By Svea Herbst-Bayliss and Dawn Chmielewski NEW YORK (Reuters) – Walt Disney appeared to pull ahead of activist investors in the battle for board seats and the future of the global entertainment conglomerate, with more than half of all shares voted before the company’s annual meeting on Wednesday. T. Rowe, which owns roughly 11.7 million
By Svea Herbst-Bayliss NEW YORK (Reuters) -Mutual fund firm T. Rowe Price, which owns roughly 11.7 million shares in Walt Disney, said it has voted for the entertainment giant’s directors, dealing a blow to activist hedge funds Trian Fund Management and Blackwells Capital as they seek board seats. T.Rowe Price told Reuters on Monday it
Billionaire investor Nelson Peltz’s Trian Fund Management has lambasted Walt Disney’s investment strategies, labeling them as a “spaghetti against the wall plan.” In a letter addressed to the shareholders of the entertainment giant on Monday, Trian criticised Disney’s approach to its investments, signaling a contentious stance in the ongoing proxy battle between the two parties.
Walt Disney is caught in a contentious battle with multiple activist investors. Shareholders should come out ahead no matter who the winner is. Right now, there are no fewer than four activists taking aim at the House of Mouse. That should come as no surprise given that Disney stock has lost more than half its