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| Nelson Peltz |
Reevemark represents Trian Partners, which will nominate its CEO and longtime activist Nelson Peltz for a board seat at Walt Disney Co.’s 2023 annual meeting.
The Financial Times reported the action at Disney could be the “centerpiece to one of the US’s busiest proxy battles in years.”
Trian contends that Disney, which ousted Bob Chapek and reinstalled Bob Iger to the helm in November, suffers from poor corporate governance, lack of succession planning and a deteriorating cash flow, resulting in the elimination of the dividend that had been paid for more than 50 years.
It raps Disney for overpaying for the 21st Century Fox assets, bidding aggressively for Sky plc and overrelying on its parks business to subsidize streaming losses.
Trian believes Pelz “as a director with meaningful ownership of Disney stock will bring an ownership mentality to the boardroom and will seek to increase transparency and accountability.”
Reevemark’s Paul Caminiti, Pamela Greene and Jacqueline Zuhse represent Trian.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
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