Third Point seeks allies to put pressure on Campbell Soup -sources [Reuters (UK)]
Campbell Soup Company (CPB)
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Source: Reuters
Third Point seeks allies to put pressure on Campbell Soup -sources | Reuters 3 Min Read NEW YORK, July 31 (Reuters) - Activist hedge fund Third Point LLC is meeting with some of Campbell Soup Co’s largest shareholders to seek support for changes at the U.S. consumer company, people familiar with the matter said on Tuesday. The meetings come after Campbell Soup Chief Executive Denise Morrison unexpectedly stepped down in May, as the company issued a bleak forecast for the year and said it would embark on a review of its many brands. Third Point, which has a sizeable stake in Campbell Soup, is hoping to win enough support from the family clans that collectively own 41 percent of the company to call for its sale or a major break-up, the sources said. It is not clear whether Third Point will win enough support, and the hedge fund may choose not to make any public demands, the sources added, asking not to be identified because the matter is confidential. Campbell Soup did not immediately r
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