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Walt Disney, ValueAct enter deal to consult activist investor on strategy
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(Reuters) -Walt Disney and ValueAct Capital Management have entered a deal to consult the activist investor on strategic matters through meetings with the entertainment giant's board and management.
San Francisco-based ValueAct, well known for working collaboratively with target companies, had built a large stake in Walt Disney (NYSE:DIS) late last year, sources told Reuters in November.
Its exact stake in the company could not be immediately determined.
ValueAct said it will support the Disney board's recommended nominees for election to the company's board at the 2024 annual shareholder meeting.
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