Nelson Peltz's Trian Fund Management is moving ahead with a proxy fight against Disney (DIS) for more board seats. Disney announced in an SEC filing that Morgan Stanley CEO James Gorman and former Sky CEO Jeremy Darroch (CMCSA) will join its board early next year. Much of Peltz's push is aimed at Bob Iger's performance as CEO, who now finds himself in the middle of this fight. Weinberg Center for Corporate Governance Founding Director Charles Elson joins Yahoo Finance to give insight into what Iger has to deal with and what it will mean for the company moving forward. "It's a big one. In a proxy fight, you're going to have to travel all over the place, meet the large investors. They'll give proxy recommendations by the large proxy advisory services that you have to deal with and you're going to have to spend a lot of time and a lot of money on it..." Elson explains. "Which is why typically you try to avoid this at all costs because it's not just time away from your job, it's time spent on this, and usually it's going to be pretty negative. " For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Cash distributions are back at Walt Disney (NYSE: DIS). Disney announced back in February that it wanted to resume its cash distributions before the end of this calendar year. Disney now paying $0.30 a share every six months doesn't amount to much for a stock that's approaching $100.
The market is underestimating these industry leaders, and that means investors have attractive buying opportunities.