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Campbell Soup Recommends Shareholders Vote To Support Current Board

Campbell Soup Co. (CPB) said it strongly recommended that shareholders vote to support the current Campbell Board of Directors with a vote on the GOLD proxy card.

In a letter to its shareholders in connection with its 2018 Annual Meeting of Shareholders scheduled for November 29, 2018, Campbell sets the record straight regarding Third Point's proposed "plan" for Campbell.

Campbell Soup said, "After nearly three months of telling Campbell that selling itself was the "only justifiable outcome" from our strategy and portfolio review, Third Point, a hedge fund that is attempting to seize control of Campbell's entire Board with a slate of underqualified candidates, finally abandoned its claim and attempted to come up with an alternative scheme. Third Point's latest "plan" can be summed up as follows: "Vote for us and we'll think of something."

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