(Reuters) – Billionaire Nelson Peltz's Trian Fund Management has dissolved its stake in Walt disney (NYSE:) after a boardroom battle with the media giant, CNBC News reported Wednesday, citing a person familiar with the matter.
Trian dissolved Disney's stake at about $120 per share, according to CNBC.
Trian was Disney's fifth-largest shareholder with a 1.77% stake as of March 31, according to LSEG data.
In April, Disney shareholders backed CEO Bob Iger and other company directors after a multibillion-dollar battle launched by billionaire Peltz and Blackwells Capital. The Peltz and Blackwells campaigns were separate and competitive efforts, but both wanted change at Disney.
Trian and Disney did not immediately respond to Reuters requests for comment on the report.
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