Battle for proxy ends with Disney fending off Peltz

The battle for control of US entertainment giant Disney has ended with chief executive Robert Iger fending off a bid by activist investor Nelson Peltz.
With the backing of the majority of shareholders, the board members supported by Iger and other senior managers remained unchanged. The motion for Peltz to nominate himself and another person as directors failed.

Trian Partners, the investment fund managed by Peltz, said their actions were successful as Disney's share price had risen by nearly 50% in the past six months.

Disney's share price fell by about 3%.

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