Sources Say Disney Has Secured Votes to Prevail Over Trian in Board Fight

Walt Disney Co has secured enough shareholder votes to defeat a challenge against its board mounted by Nelson Peltz’s hedge fund Trian Fund Management, people familiar with the matter said on Tuesday.

Enough votes had been cast as of Tuesday evening to put Disney’s board directors safely ahead of Trian’s two challengers, Peltz and former Disney chief financial officer Jay Rasulo, the sources said.

Blackwells Capital, another hedge fund that nominated three board director candidates at Disney, was also unsuccessful in its attempt, the sources said.

Read the source article at Yahoo Finance