Marvel Ex-Chairman Ike Perlmutter Reportedly Sold His Entire Disney Stake for Nearly $3 Billion After Unsuccessful Board Fight
variety.comTodd Spangler NY Digital Editor Ike Perlmutter, the former Marvel Entertainment chairman who was ousted last year, sold all of his Disney stock — about 25.6 million shares — for almost $3 billion, according to a report by the Wall Street Journal.
Perlmutter, who was among the largest individual shareholders in the Mouse House, sold his stake in Disney between early April and mid-July at an average price of just under $115/share, per the report.
Through a rep, Perlmutter declined to provide additional comment. Disney did not respond to a request for comment. Perlmutter had pooled his Disney holdings with Trian Partners, led by activist investor Nelson Peltz, who had staged a pricey and ultimately unsuccessful proxy fight to win two seats on Disney’s board.
In the days following the April 3 shareholder vote in which Disney investors voted down Trian’s board nominees, Peltz had cashed out of Disney’s stock to reap $1 billion, per a CNBC report.
Read more on variety.com
