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Longacre Square Partners handles Ancora Holdings, an investor in Walt Disney Co., as it urges fellow shareholders to urge the board to compromise with Nelson Peltz’s Trian Fund Management.
Peltz wants to shake up Disney’s board by adding shareholder or investor-designated representatives to it.
In its “Fellow Shareholders” letter, Ancora says a board revamp is necessary “following an extended period of absentminded governance, ineffective succession planning, polarizing actions and sustained value destruction.”
Disney shareholders “have incurred meaningful losses and the company has dramatically underperformed the S&P Media & Entertainment Index over various periods.”
Ancora also attacked what it called a “self-serving publicity stunt” from Blackwells Capital, which has expressed concern that “Trian’s campaign prioritizes Mr. Peltz’s ego over what is best for all Disney shareholders.”
Longacre Square Partners’ Charlotte Kiaie and Olivia McCann handle Ancora, while Blackwells Capital uses Gagnier Communications’ Dan Gagnier.
FGS Global handles Fox Corp. as it agrees to acquire The Roku Channel, which relies on Joele Frank, in a deal valued at $22B.
Caterpillar’s Rob Rengel will join ATI Inc. on June 22 as VP-investor relations, succeeding the retiring David Weston.
Hut 8, energy infrastructure platform, has named NextEra Energy's Mark Eidelman head of IR and SVP of strategic finance.
Teneo handles easyJet as Minneapolis investment firm Castlelake mulls a possible takeover of the British budget airline.
Brunswick Group represents Universal Music Group as it rejects the unsolicited $65B takeover offer by billionaire Ed Ackman's Pershing Square Capital Management because it “fundamentally and materially undervalues” the world’s largest music company.
