FT News Briefing Nelson Peltz versus Disney
Jan 30, 2023
Tensions rise as India’s Adani Group fiercely rebuts serious allegations from short seller Hindenburg Research. A dramatic decline in the company's stock value triggers discussions on its impact in the economic landscape. Meanwhile, central banks gear up to raise interest rates to 15-year highs, amplifying investor anxiety. In the corporate world, activist investor Nelson Peltz challenges Disney’s management, seeking a board seat and criticizing its controversial $71 billion Fox deal. The stakes are high as both corporate giants face significant pressures.
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Adani Group's Rebuttal
- Adani Group published a rebuttal against Hindenburg Research's accusations of stock manipulation and fraud.
- Hindenburg's report wiped out roughly $50 billion from Adani's value and affected Adani's share sale.
Peltz and Disney
- Nelson Peltz, an 80-year-old activist investor, targets companies like Disney that he believes are inefficient.
- His daughter is Nicola Peltz, who is married to Brooklyn Beckham.
Fox Acquisition Criticism
- Peltz argues Disney's $71 billion Fox acquisition was overpriced and negatively impacted their debt.
- This acquisition occurred before Disney's streaming wars with companies like Netflix.