Disney Moving Closer to Win Over Trian With Vanguard Backing (2)

Walt Disney Co. and Chief Executive Officer Bob Iger are poised to triumph over Nelson Peltz’s Trian Fund Management in a costly, months-long proxy battle, according to people with knowledge of the matter.

With more than 60% of the votes counted, Vanguard Group Inc. is backing Disney’s slate of board nominees at a much-anticipated meeting set for Wednesday, according to the people, who asked not to be identified discussing confidential information.

Vanguard is the biggest investor in Disney, with a roughly 8.3% stake, Bloomberg-compiled data show. BlackRock Inc., with a 6.7% stake making it Disney’s second-biggest shareholder, is ...