Disney Co. made a strategic move amid its proxy battle with Nelson Peltz by inking an “information sharing” deal with activist investor ValueAct Capital.
The Mouse House also secured the support of investor Blackwells Capital, which said it will nominate three candidates to the board to rival Peltz’s Trian Fund Management proxy fight.
The deal with ValueAct, an investor in Disney, ensures the investment firm will support the company’s recommended slate of nominees for election to the Disney board at the upcoming annual meeting, expected to be held this spring.
Under Disney’s confidentiality agreement with ValueAct, the media conglomerate will provide information to the investment firm and consult with ValueAct on “strategic matters,” including through meetings with the Disney board and management.
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