Activist ValueAct Builds Stake in Disney.

ValueAct Capital, an activist fund based in San Francisco, has acquired a significant stake in Disney and has initiated dialogue with the company's board. The fund believes that Disney is undervalued and that its theme parks and consumer-products businesses alone are worth at least $80 a share. This marks the third activist investor to build a significant stake in Disney in under two years, following Nelson Peltz and Dan Loeb's Third Point. ValueAct is known for working with management behind the scenes to avoid proxy battles. [Extracted from the article]