ValueAct, an “activist” investment group, has come out hard in support of Disney’s current Bob Igor led board in opposition to two other activist groups that are looking for substantive changes at Disney. What ValueAct failed to let voters know is that they have a vested interest in keeping Disney as it is, especially under Igor’s leadership, since they have been managing Disney’s pension fund since 2013.
One of the competing investment groups, Blackwell’s Capital, sent out a note urging voters to disregard any recommendations by ValueAct as they are too entangled with Igor and his board to give an objective opinion. Blackwell Capital wrote “Blackwells diligence revealed that the Board failed to disclose in the press release that ValueAct or its affiliates have been managing over $350 million of Disney’s pension fund assets, and that ValueAct has been earning fees ranging from approximately $55 million to $95 million for the services provided to Disney’s pension fund since as early as 2013.”
About Author
Paul Collier
Paul Collier is the editor of The Freedomist newsite, our Weekday Reports, and our Monthly Publication, Freedomist Intelligence Advisor (previously McAlvany Intelligence Advisor). He has been involved in news publishing since 2003.
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