Disney has attracted the interest of another activist investor that believes the company is undervalued, with ValueAct Capital accumulating a stake in the entertainment giant’s stock and initiating dialogue with its board.
ValueAct—an activist fund based in San Francisco with investments in information technology, energy, financials and media—has taken a “sizable” but so far undisclosed stake in Disney that makes it one of the fund’s biggest holdings, according to people familiar with the matter.
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