UPDATE 2-Campbell, Third Point urge shareholders to vote for two different boards [Reuters]
Campbell Soup Company (CPB)
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Source: Reuters
Campbell, Third Point urge shareholders to vote for two different boards | Reuters 3 Min Read (Reuters) - Campbell Soup Co ( CPB.N ) and hedge fund Third Point LLC on Friday filed preliminary proxy materials urging the food company’s shareholders to vote in favor of two entirely different slates of board nominees. Third Point, run by billionaire investor Daniel Loeb, launched a proxy fight last week to replace Campbell’s 12-member board. Loeb’s $18 billion hedge fund, which owns a 5.65 percent stake, said at the time that the soup-maker was in a “mess” and faulted its board for failing to take corrective action. His move came a week after Campbell announced the results of a broad strategic review and said it would sell its international and fresh refrigerated-foods units. Third Point’s 12-person slate includes William Toler, former chief executive of Hostess Brands, Munib Islam, a partner at Third Point, and George Strawbridge, a grandchild of chemist John Dorrance who invented cond
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- 3/28/24 - Form 4
- CPB's page on the SEC website