The Disney proxy fight pits Trian Partners’ Nelson Peltz against the board and CEO Bob Iger.
Vanguard, State Street and BlackRock are the largest investors at Disney, making them key votes to court as Wednesday's shareholder meeting nears.
Both sides have made their case to investors for months in media appearances, conferences, one-on-one dinners, and meetings with top investors. But the institutional vote will be key at Disney. Just 33% of shareholders are considered retail, a significant amount, but they're less likely to vote than their institutional peers.
"With the introduction of the universal proxy card, you should get better turnout as well," Squire told CNBC. The solicitors are tasked with pitching retail shareholders, although courting and winning institutional investors is a bigger priority. Advisors on both sides have tried to win support from Vanguard, Blackrock and State Street.
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