“Disruptive and destructive.” That is how Disney has referred to the activist investors who are pushing for seats on its board and influence over its strategy.
In return, the activists have called Disney “stupid” and mocked its purported turnaround as “a fanciful tale.”Which side will prevail?
One of the largest, priciest and nastiest proxy contests in history will come to a head on Wednesday, when Disney is scheduled to virtually host its annual shareholder meeting.
A smaller activist investor, Blackwells Capital, is seeking three seats.
Disney has put forward its own slate of 12 directors and has said its get-out-the-vote campaign would cost up to $40 million.
Persons:
Nelson Peltz, —
Organizations:
Disney, Trian Partners, Blackwells