(Reuters) – Trian Fund Management’s Nelson Peltz, the activist investor who launched and then abandoned a proxy fight earlier this year at Walt Disney Co, has recently added to his stake in the company, Bloomberg News reported on Monday.
Trian has purchased roughly 500,000 more shares since the end of March, giving it a total of 6.4 million, the report said, citing a person familiar with Peltz’s holdings.
The fund started the year with 9.4 million Disney shares, before cutting its stake by 34% by the end of March, according to the report.
Billionaire Peltz ended his quest for a board seat at Walt Disney after Chief Executive Bob Iger laid out plans for cutting 7,000 jobs as part of an effort to save $5.5 billion in costs and make the company’s streaming business profitable.
Walt Disney and Trian Fund Management did not immediately respond to Reuters’ requests for comment.
(Reporting by Urvi Dugar in Bengaluru; Editing by Subhranshu Sahu)
