The Wall Street Journal
Activist ValueAct Builds Stake in Disney
Walt Disney has attracted the interest of another activist investor that believes the company is undervalued, with ValueAct Capital accumulating a stake in the entertainment giant’s stock and initiating dialogue with its board. ValueAct, an activist fund based in San Francisco with investments in information technology, energy, financials and media, has taken a “sizable” but so far undisclosed stake in Disney that makes it one of the fund’s biggest holdings, according to people familiar with the matter. The fund built its position over the summer while Hollywood was shut down by dual writers’ and actors’ strikes and as Disney’s share price was languishing around $80, the people said.
Source: finance.yahoo.com
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