Reported 4 months ago
Activist investor Nelson Peltz has sold his entire stake in Disney at around $120 a share, yielding a return of about $1 billion, following his loss in a proxy battle to secure board seats at the company. Peltz's hedge fund, Trian Fund Management, had owned $3 billion in Disney stock and had been pushing to shake up the board. Despite Disney's successful defense, Peltz stated that Trian would continue to monitor the company's performance. Disney shares have risen 12% this year but dropped 15% since the proxy battle.
Source: YAHOO