Business Maverick: Trian’s Nelson Peltz Says Proxy Fight With Disney Is Over

Peltz announced the news in an interview with CNBC. Trian confirmed the decision to drop the proxy battle, calling it a “win for all shareholders.”

Iger’s plans for the world’s largest entertainment company include 7,000 job cuts and $5.5 billion in cost savings. He also said Disney’s board would consider reinstating the company’s dividend, which was suspended at the start of the pandemic. The moves addressed two of Peltz’s biggest complaints. “We are pleased that Disney is listening,” Trian said in a statement after Iger’s announcement.

Proxy fights are expensive and can run into the tens of millions of dollars. Trian also likely already saw a sizable gain on its $1 billion stake in Disney, with the shares climbing 32% so far this year.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Eastern Cape tackles underage drinking - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The Economic Development Department and the Eastern Cape Liquor Board have launched the second leg of the Learner Ambassador Programme at Nelson Mandela Bay for schools in KwaZakhele in Gqeberha to try and curb underage drinking.
Source: SABCNews - 🏆 37. / 51 Read more »