Third Point, run by billionaire investor Daniel Loeb, launched a proxy fight last week to replace Campbell
CHICAGO: Campbell Soup Co and hedge fund Third Point LLC have filed preliminary proxy materials urging the food company’s shareholders to vote in favour 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 US$18bil hedge fund, which owns a 5.65% stake, said at the time that the soup-maker was in a “mess” and faulted its board for failing to take corrective action.
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