According to a report from Reuters, Disney has secured enough votes to fend off a proxy battle from Trian Fund Management over seats on the Disney Board of Directors. Official results are expected at today’s Annual Meeting of Shareholders scheduled for 1pm ET.
In the report, Reuters says that sources familiar with the matter have said that enough votes have been cast to put Disney’s candidates safely ahead of challengers from Trian and Blackwells. Votes can still be cast and changed, but it’s not expected to change the outcome.
A victory in this proxy battle would clear the way for Iger and Co. to continue their phase of building, which includes an investment of $60 billion in its Experiences division, $30 billion of which is expected to go to theme parks over the next decade.
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