Nelson Peltz adds to Disney stake following share sale - Bloomberg News

<html xmlns=""><head><title>UPDATE 1-Nelson Peltz adds to Disney stake following share sale - Bloomberg News</title></head><body>

Adds Trian Partners response in paragraph 4 and 5

May 15 (Reuters) -Nelson Peltz, the activist investor who launched and then gave up aproxy fight earlier this year at Walt Disney Co DIS.N, has recently added to his stake in the company, Bloomberg News reported on Monday.

Peltz-owned Trian Fund Managementhas purchased roughly 500,000 more shares since the end of March, giving it a total of 6.4 million, the report said, citing a person familiar with the matter.

The fund started the year with 9.4 million Disney shares, before cutting its stake by 34% by March-end,the report said.

"On Feb. 8, 2023, Disney committed to strategic and operating improvements that generally aligned with the initiatives we had previously discussed with the company." Trian Partners said in an emailed response.

"We believe these initiatives can create value and are monitoring management’s execution closely."

Billionaire Peltz ended his quest for a board seat at Walt Disney after Chief Executive Bob Iger laid out plans for cutting 7,000 jobs as part of an effort to save $5.5 billion in costs and make the company's streaming business profitable.

Walt Disney did not immediately respond to Reuters' requests for comment.

Reporting by Urvi Dugar in Bengaluru; Additional Reporting by Jyoti Narayan; Editing by Subhranshu Sahu and Sonia Cheema


Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.