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Gladstone Place Partners CEO Steve Lipin represents Walt Disney Co. as the embattled entertainment giant announced today that it is supported by activist investment firm ValueAct Capital Management in its efforts to fend off a proxy fight with Nelson Peltz’s Trian Fund Management.
Disney agreed to share information with ValueAct and consult with it on strategic matters. ValueAct, in turn, will support Disney’s slate of nominees at the 2024 annual meeting.
ValueAct Co-CEO & chief investment officer Mason Morfit believes Disney can lead the media industry as legacy technologies transition to digital platforms. Disney chief Bob Iger said Morfit “has been very constructive in the conversations that we’ve had over the past year.”
Gagnier Communications is handling Blackwells Capital as it unveiled three director nominees on Jan. 3 who support Iger’s “value creation vision.”
A Blackwells’ proposal specifies that any incumbent director outvoted by its nominees will be added back to the board following the annual meeting.
Jason Aintabi, chief investment officer at Blackwells, called on Peltz “to end his peacocking so that Disney can focus on its bright future and not be dragged backward in time."
Gagnier Communications’ Dan Gagnier and managing director Riyaz Lalani handle Blackwells.
Trian relies on Reevemark’s Paul Caminiti, Pamela Greene and Jacqueline Zuhse in its Disney push.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
Haggie Partners is working the $7B takeover of the specialty insurer Convex by Canada’s Onex private equity fund and American International Group.
WPP reported Q3 revenues less pass-through costs tumbled 5.9 percent to $3.3B, a performance new CEO Cindy Rose called “unacceptable.”
