Benzinga - by MarketBeat, Benzinga Contributor.
The Walt Disney Co. (NYSE: DIS) shares have been surging to 52-week highs, but not necessarily due to material improvements in operations. There is a proxy war being undertaken between billionaire activist investor Nelson Peltz of the Trian Fund and the Walt Disney CEO Bob Iger. The battle boils down to control of the Board of Directors as shareholders vote at the investor meeting on April 3, 2024.
How Did The Proxy War Emerge?
The White Paper Against Disney
On March 4, 2024, Trian released a 133-page white paper, "White Paper: Trian's Case for Change at Disney", detailing Peltz's plan to turn around the company, which includes performance-based compensation with shareholder value, reaching 15% to 20% margin and replacing its CEO.
Trian Group Nominates 2 Board Members
A History of Board Participation
The Wendy's Co.The Proctor & Gamble Co.A Turnaround in the Works?
The Alliances Chime In
After the shareholder vote on April 3, 2024, Disney shares will reveal which was responsible.
Analysts Chime In
Daily Bull Flag Breakout
The article "Walt Disney's Proxy Tug of War Pulls Shares to 52-Week Highs " first appeared on MarketBeat.