Investing.com — Here is your Pro Recap of the biggest insider trades and institutional investor headlines you may have missed this week: Walt Disney turns down Trian request for Board representation, Elliott takes $1 billion stake in Phillips 66 and seeks board seats, and top brass buys at Arbor Realty Trust , Agilon Health, and 3D Systems.
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Walt Disney turns down Trian Fund Management request for Board representation
Trian Fund Management, led by activist investor Nelson Peltz, announced that their request for board representation at Walt Disney (NYSE:) was rejected. Holding about $3 billion in Disney shares, Trian disclosed that despite discussions with Disney’s CEO and an invitation to meet with the board, their proposal for board seats, including one for Peltz, was declined.
This comes after reports stated that Peltz might nominate at least three directors for Disney’s board.
“Since we gave Disney the opportunity to prove it could ‘right the ship’ last February, up to our re-engagement weeks ago, shareholders lost ~$70 billion…
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