Nelson Peltz (Unilever PR pic)Nelson Peltz
Billionaire investor Nelson Peltz Dumps his Disney stock, raking in about $1 billion, according to a report by CNBC. The move came just six weeks after Peltz finally lost his bid to take over the Disney company.
Nelson Peltz, who owned about 1.77% of Disney’s stock, sold out at a price of roughly $120 per share.
Peltz’s long struggle to take over Disney came to a disappointing end in early April when, the Walt Disney Company’s shareholders voted overwhelmingly to reject the billionaire’s slate of candidates for the Disney board, with 75% giving a vote of confidence in the continued leadership of the current Disney head Bob Iger.
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Nelson Peltz’s Disney bid was made by his hedge fund Trian Partners.
“While we are disappointed with the outcome of this proxy contest, Trian greatly appreciates all of the support and dialogue we have had with Disney stakeholders. We are proud of the impact we have had in refocusing this Company on value creation and good governance,” Trian Partners said in a statement at the time.
“I want to thank our shareholders for their trust and confidence in our Board and management,” Iger said at the time. “With the distracting proxy contest now behind us, we’re eager to focus 100% of our attention on our most important priorities: growth and value creation for our shareholders and creative excellence for our consumers.”
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 the 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.
