(Reuters) – Billionaire Nelson Peltz’s Trian Fund Management has dissolved its stake in Walt Disney after a boardroom battle with the media giant, CNBC news reported on Wednesday, citing a person familiar with the matter.
Trian dissolved the Disney stake at close to $120 per share, according to CNBC.
Trian was Disney’s fifth-biggest shareholder with a 1.77% stake as of March 31, according to LSEG data.
In April, Disney shareholders backed Chief Executive Bob Iger and other company directors after a multimillion-dollar, mud-slinging battle launched by billionaire Peltz and Blackwells Capital. Peltz’s and Blackwells’ campaigns were separate, competing efforts but both wanted change at Disney.
Trian and Disney did not immediately respond to Reuters’ requests for comment on the report.
(Reporting by Sourasis Bose in Bengaluru; Editing by Maju Samuel)
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