Hollywood director and Star Wars creator George Lucas is backing Walt Disney (DIS) and CEO Bob Iger in their proxy fight with Nelson Peltz’s Trian Partners and Blackwells Capital.
In a statement, Lucas states, “Creating magic is not for amateurs… I remain a significant shareholder because I have full faith and confidence in the power of Disney and Bob’s track record of driving long-term value. I have voted all of my shares for Disney’s 12 directors and urge other shareholders to do the same.”
In the video above, Yahoo Finance’s Alexandra Canal discusses the latest developments ahead of Walt Disney’s annual meeting on April 3.
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