Disney (NYSE: DIS) CEO Bob Iger is apparently willing to make some hard choices so billionaire investor Nelson Peltz no longer sees the need to mount a proxy battle against the entertainment giant.

Peltz's Trian Partners had taken a 9.4 million share stake in Disney in January, valued at about $1 billion, with the idea of winning a seat on the board of directors. The activist investor said Disney was "a company in crisis" that had "lost its way resulting in a rapid deterioration in its financial performance," leaving it with a "balance sheet from hell."

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Source Fool.com