Disney Rises 3% on Report of ValueAct Taking Stake

Activist investor ValueAct has taken a stake in Walt Disney . The activist is in dialogue with the Disney's management and is "friendly" with the entertainment giant, according to a report from CNBC's David Faber. The stake is a large position for ValueAct and may be about $1 billion or less . The news was earlier reported by 13D Monitor's Activist Spotlight. ValueAct started building the stake in the summer and continues to buy the stock, according to Faber. ValueAct and its head Mason Morfit have had discussions with Disney CEO Bob Iger. Developing story ... More on Disney Disney: The Recovery Could Be Epic Disney: Consider Buying The Mickey Mouse Kingdom Streaming Reality Vs. Fantasy With Dan Rayburn Nelson Peltz's Trian Fund ups Disney stake in Q3, takes in Allstate, exits Mondelēz ESPN BET launches next week - do Disney and PENN have an edge?
Disney Rises 3% on Report of ValueAct Taking Stake

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