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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 represents private equity firm Thoma Bravo as it makes a $4.6B bid for Darktrace, a UK-based cybersecurity artificial intelligence firm.
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.
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