Disney's shareholder Perlmutter sells his stake after proxy fight loss, WSJ reports

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A former Disney executive, Perlmutter sold his shares between early April and mid-July at an average price of just under $115 - but if Disney's share price declines to a range of $65 to $75, he plans to repurchase much of his old stake, the report said. Perlmutter supported activist shareholder Nelson Peltz's unsuccessful bid last year to obtain a seat on Disney's corporate board. He sold his entire position of 25.6 million shares after Disney's board vote, the report added, based on the communications with his investment adviser.



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