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Stock impact report

UPDATE 2-Campbell Soup to sell international, fresh food units [Reuters]

Campbell Soup Company (CPB) 
Last campbell soup company earnings: 3/4 07:30 am Check Earnings Report
US:NYSE Investor Relations: investor.campbellsoupcompany.com
Company Research Source: Reuters
Campbell Soup to sell international, fresh food units | Reuters Reuters Staff 4 Min Read (Reuters) - Campbell Soup Co ( CPB.N ) said on Thursday it would sell its international businesses and fresh refrigerated-foods unit, following a months-long strategic review and pressure from hedge fund investors to sell the whole company. The board kept alive the possibility of an outright sale, saying it “remains open and committed to evaluating all strategic options to enhance value in the future.” It is not clear if the plan will appease activist investor Dan Loeb, whose Third Point LLC hedge fund announced a 5.65 percent stake on Aug. 9 and immediately pressed for a sale of the entire company to a competitor as “the only justifiable outcome.” Shares of the 149-year-old company fell 4 percent in pre-market trading. The company has hired Goldman Sachs Group Inc ( GS.N ) and Centerview Partners to sell the units. The two businesses currently bring in about $2.1 billion in annual sales, abou Show less Read more
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