Nelson Peltz (Unilever PR pic)
Nelson Peltz strikes again. The activist investor is making another play for Disney. And his Trian Fund Management is looking to buy out the mammoth insurance firm Allstate.
Peltz is once again looking to gain multiple seats on the board of the Walt Disney Company for himself and some associates. He last did this in February in a proxy fight for control of the company. But at that time Peltz dropped his bid when Disney said it would find a way to slash $5.5 billion in expenses and cut 7,000 jobs to save money.
At the time Nelson Peltz said, “Now Disney plans to do everything we wanted them to do. We wish the very best to Bob (Iger), this management team and the board.” But since then Disney stock plummeted in value by 26%.
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As for Allstate Corp, Nelson Peltz’s Trian Fund Management reportedly has a large stake in the company which is hurting after being forced to pay out considerable sums of money on insurance policies after recent natural disasters like the wildfires in Hawaii.
Reuters reported that Allstate hired investment bankers to advise it on how to handle a possible Trian takeover bid.
Nelson Peltz is an American billionaire businessman and investor. He is a founding partner, together with Peter W. May and Edward P. Garden, of Trian Fund Management, an alternative investment management fund based in New York. He is non-executive chairman of Wendy’s Company, Sysco, and The Madison Square Garden Company. He is a former director of H.J. Heinz Company, Mondelēz International, and Ingersoll Rand and a former CEO of Triangle Industries.
Peltz is known for being an activist investor, which means that he buys stakes in companies and then pushes for changes to improve their performance. He has a reputation for being tough and demanding, but he has also been successful in helping companies to improve their profitability.
