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Campbell Soup Heirs In Showdown With Activist Hedge Fund

by investopedia.com posted 11months ago 28 views
For billionaire hedge fund manager Dan Loeb, Campbell Soup (CPB) is an important target. Loeb's activist hedge fund, Third Point, owns nearly 7% of outstanding shares in the soup company. According to a report by CNBC, Loeb is aiming to replace the entirety of Campbell's 12-seat board of directors at the company's upcoming shareholder meeting on November 29. Doing so would allow Loeb to exert a higher degree of control over the company's practices and business strategies, as is common in an activist investor approach. Separately, Loeb has called for a sale of the company.

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