Disney ( DIS ) has hit back at activist investor Nelson Peltz amid its ongoing proxy battle with the hedge fund billionaire. "Nelson Peltz does not understand Disney’s businesses and lacks the skills and experience to assist the board in delivering shareholder value in a rapidly shifting media ecosystem," Disney said in an updated proxy statement on Tuesday, adding: "The current Disney board is the right board for shareholders." The company once again defended its stock performance under CEO Bob Iger’s watch, noting during his first bout as chief executive Disney’s total shareholder return totaled 554%, topping the 244% total return realized by the S&P 500 over that period. Additionally, amid Peltz’s repeated criticism of the company’s $71.3 billion purchase of 20th Century Fox in 2019, Disney doubled down on its Iger-era acquisitions, which also included Marvel in 2009 and Lucasfilm in 2012. The company argued the deals "transformed" the business into the media powerhouse it is today after Peltz told CNBC in a recent interview: "Fox hurt this company. Fox took the dividend away. Fox turned what was once a pristine balance sheet into a mess." Disney shares, which were little-changed in early trading on Tuesday, are up […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
