Disney Pays Millions to ValueAct Before Winning Proxy Fight Support, Activist Claims
Disney Pays Millions to Valu...
Subscribe to Newsletter

Disney Pays Millions to ValueAct Before Winning Proxy Fight Support, Activist Claims

12 March 2024
2 min.
Disney Pays Millions to ValueAct Before Winning Proxy Fight Support, Activist Claims

The Secret Pact

In a recent revelation, Blackwells Capital has called into question the independence of ValueAct Capital's support for Disney's board. This scrutiny emerged following disclosures that ValueAct, a firm with a notable $12 billion under management, has had a financial relationship with Disney since 2013, managing over $350 million of Disney's pension funds.

Disney had previously secured ValueAct's support, underlining it as a constructive endorsement against the backdrop of a looming proxy battle with Trian Partners, led by Nelson Peltz. Disney's CEO, Bob Iger, praised ValueAct and its leader, Mason Morfit, for their backing earlier this year, a move that now faces critical examination due to the undisclosed financial connections.

Blackwells Capital, which has also thrown its hat into the ring by nominating directors in an attempt to influence Disney's direction, pointed out that the relationship between Disney and ValueAct could compromise the perceived independence of ValueAct's backing. This allegation is backed by Department of Labor filings from 2022, revealing ValueAct's management of significant Disney pension assets, with Disney purportedly paying around $95 million in fees to ValueAct from 2014 to 2022.

As Disney navigates a proxy fight initiated by Trian since last October, the stakes are high with Disney's annual shareholder meeting on the horizon. Trian has criticized Disney's board for its closeness to Iger, especially after Iger's return as CEO, replacing his own successor, Bob Chapek.

In defense, Disney has emphasized its confidence in Iger and the board's ability to oversee successful leadership transitions, noting the stock price challenges and strategic focuses on expanding its experiences and streaming services. Despite the ongoing proxy battle and scrutiny, Disney continues to highlight the support from ValueAct and Morfit in various communications, raising questions about the influence of undisclosed financial relationships on shareholder perceptions.

As this intricate scenario unfolds, all eyes are on Disney, ValueAct, and Trian, with stakeholders eagerly awaiting further comments from the involved parties.

Persons3 and Companies3 in the news

American billionaire businessman and investor
1 place
Chief Executive Officer of The Walt Disney
2 place
Chief executive officer of The Walt Disney Company
3 place
Rating companies
16 Mention
14 Mention
13 Mention
JP Morgan Chase
11 Mention
Ford Motor Company
11 Mention
9 Mention
White House
7 Mention


News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director
Died this year
Born this year