Nelson Peltz Made Over $150M Profit In His Proxy Battle Against Walt Disney In Three Months

Activist investor Nelson Peltz's Trian Partners made a paper profit of about $154 million on the stake he built in Walt Disney Co DIS since early November and launched a proxy fight against returning CEO Bob Iger.
Peltz amassed around 9.4 million shares of Disney at a price just shy of $92 in November, equivalent to about $865 million.
On Thursday, Disney stock briefly surged to a six-month high, hitting $118 per share. That intraday high made Peltz's stake worth $1.1 billion, representing a paper profit of just under $250 million, according to people familiar with the investment and Bloomberg calculations.
Disney stock has trended lower and traded at $108 on Friday, putting the gain at around $150 million.
The proxy fight launched by Peltz was called off on Thursday after Iger announced a restructuring plan to slash 7,000 jobs and target $5.5 billion in savings.
Trian's proxy filing shows that the firm bought large numbers of shares in early November when the stock traded as low as $86.28.
Two big trades in December were made at $95.59 per share and $95.16.
Disney's stock is up almost 25% over the past three months.
Earlier this year, the entertainment giant denied Peltz a board seat, saying he lacked the skills and experience to help the company in its business.
Price Action: DIS shares are down 0.70% at $107.29 on the last check Monday.