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Nelson Peltz: $300 million profit on Disney is 'dramatically' wrong, we did better than that

Nelson Peltz, Trian Partners founding partner, joins 'Squawk on the Street' to discuss the founding partner's thoughts on Disney after losing the proxy battle for board seats.

CNBC Television

1 day ago

[Music] uh any company in mind right now that's a different company you've got me thinking about I know this is I like to think a little forward too is there anyone disappointing you that you think might be take a look at Jim I got to finish buying that stock before I can tell you who it is all right some mystery there now let's talk about an article in the journal which says Nelson pel's Disney consolation prize a $300 million gain in a recent ft piece uh the Ft says pelts likes to say that he'
d rather be rich then be right uh were you rich and don't care about being right give the $300 million consolation prize well first of all the number is wrong okay okay the number is dramatically wrong we better than that Jim how about one billion okay and and and and that sounds more like it and and the fact is that we have an obligation to our investors okay we have to make returns for our investors and then once we get on a board that obligation moves to the board but until we get on a board
we have to do what's right for our investors and I think we've done right for them in terms of our investment in Disney and that's what I say I mean it Bob's got to take it from here did you uh after getting ISS were you surprised mean you had a proxy advisor say that you were the guy that should on were you surprised that some of the index funds actually voted against you I was very surprised at that and one has to understand why they voted against because if you look at their comments their co
mments were beautiful they were very complimentary but at the end of the day they checked the box and you'll have to ask them why they did it I've got my feelings but I'm not going to talk about it here on television but you should ask them I was very disappointed to say the least that after the beautiful comments and after the good meetings we had with them they decided to vote against us I want to be sure about this so in other words you met with some of the index funds there's only a couple v
ery large ones did they say that they would vote for you and then change their mind they didn't I didn't say that they didn't say that they were they won't tell you whether they're going to vote for you when you meet with them but they were very seemed very happy with our meeting seemed very positive about the answers we gave them and you know you look I had 93 engagements my my people tell me in this Disney proxy fight 93 you walk out of the room and you say that was a good one or that wasn't s
o good we missed a couple of points but the fact fact is when we walked out of the meetings with the index funds I thought all three of them were very good and so I was quite surprised that they didn't vote for us and basically them going one way or the other shifts these votes and that's a big problem

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