More than half of the votes have been tabulated, according to the Wall Street Journal, which cited persons who are familiar with the subject
This indicates that Walt Disney Company is currently in the lead in its proxy war against billionaire Nelson Peltz.
It was reported in the newspaper that BlackRock Inc., which is Disney's second-largest shareholder, is one of the key investors who are supporting management. One more significant investor, T. Rowe Price Group Inc., has also expressed their intention to back Disney.
A media article stated that there is no assurance that Disney would maintain its lead. Investors continue to cast their votes and have the ability to alter them.
The annual meeting of the entertainment business titan takes place on April 3. In addition to Jay Rasulo, who formerly served as Disney's top financial officer, Peltz is attempting to secure board seats for himself.
Peltz was in the lead to replace director Maria Elena Lagomasino a few days ago, with almost twenty percent of shares voted, while Rasulo was in second position, according to the Journal.
According to the Journal, investors such as Neuberger Berman, which expressed dissatisfaction with Disney's management of CEO succession,
and the California Public Employees' Retirement System, which is the largest pension fund in the country, have expressed their support for Peltz's Trian Fund Management LP.
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