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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.
Longacre Square Partners represents Ancora Holdings as it urges the board of Big Yellow Group to conduct a strategic review of the UK’s No. 1 self-storage company.
Kekst CNC handles Getty Images as it begins a prepackaged Chapter 11 reorganization and receives a commitment from Koch Equity Development and the Getty family to invest $533M in the visual content company.
As capital concentrates among established firms, emerging managers must find new ways to earn investor confidence.
Teneo handles True Food Kitchen as the Scottsdale, AZ-based wellness food restaurant chain that counts Oprah Winfrey as a minority investor files for Chapter 11.
FGS Global and Teneo represent Canada’s billionaire Weston family as its Wittington Investments holding company acquires Boots Group, the 177-year-old UK health & beauty retailer, from Sycamore Partners for $8.9B.
