Walt Disney Co. (NYSE:DIS) is prevailing over activist Trian in its proxy struggle for board seats, with greater than half of the votes forged, in keeping with a WSJ report on Monday.

BlackRock, Disney’s second-largest shareholder with a 4.2% stake, is among the many traders backing the leisure large, in keeping with the WSJ report, which cited individuals acquainted with the matter.

Cash supervisor T. Rowe Worth additionally stated on Monday it plans to vote for Disney. It owns about 9.3 million Disney shares, or about 0.5% of the full.

“T. Rowe Worth is snug that administration has a viable plan to deal with the vital issues dealing with the corporate,” the cash supervisor stated in an announcement, in keeping with a Bloomberg report.

The information comes as Disney (DIS) holders are set to vote on the proxy feud between Trian’s Nelson Peltz and Walt Disney CEO Bob Iger on the annual assembly on Wednesday. It isn’t assured that Disney (DIS) will stay forward within the voting as traders are nonetheless casting votes and might change them by the annual assembly, the WSJ stated.

Trian’s marketing campaign, formally launched in early 2024, has drawn help from key stakeholders, together with influential proxy advisory agency Institutional Shareholder Companies, which has backed Nelson Peltz’s candidacy but not Jay Rasulo, a former CFO of Disney. Proxy agency Glass Lewis has backed Disney’s director slate.

Activist investor Blackwells Capital additionally nominated three administrators for Disney’s board.

Reuters reported on Friday that the California Public Workers Retirement System (CalPERS) stated it voted to elect Trian’s director nominees. CalPERS, the most important public pension plan within the U.S., owned 6.65M Disney (DIS) shares as of the tip of 2023.