Peltz sold his stake after Disney successfully fended off his activist investor campaign.
The hedge fund was Disney's fifth-biggest shareholder with a 1.77% stake as of March 31, according to LSEG data. It sold the stake at close to $120 per share, CNBC reported, adding that Peltz made about $1 billion. Trian declined to comment on the report, while Disney did not immediately respond to a Reuters request for comment.
(Bloomberg) -- Activist investor Nelson Peltz has sold his entire stake in Walt Disney Co., CNBC reported, citing a person with knowledge of the matter.Most Read from BloombergWorld’s Largest Nuclear Plant Sits Idle While Energy Needs Soar‘Not Gonna Be Pretty:’ Covid-Era Homebuyers Face Huge Rate JumpWarning Signals Are Flashing for Homeowners in Texas and FloridaNew BYD Hybrid Can Drive Non-Stop for More Than 2,000 KilometersWall Street Returns to T+1 Stock Trading After a CenturyPeltz’s Trian