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Big Law

Walt Disney Prepares For a Bitter Battle as Activist Investor Peltz Seeks Two Board Seats

Walt Disney is bracing for a bitter proxy battle as activist investor Nelson Peltz nominated himself and an ally to Disney’s board, his second attempt this year to gain sway over the company’s strategy.

The looming battle comes at a pivotal time for Disney, as the company is trying to reinvigorate its creative franchises, make its streaming business profitable and find partners to help build ESPN’s digital future.

Peltz’s Trian Fund Management, which owns roughly $3 billion worth of Disney shares, abandoned a bid for one board seat in February when the media conglomerate outlined a sweeping restructuring plan that addressed his criticisms.

Read more at Yahoo! Finance

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