Plus   Neg

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."

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
MillerCoors LLC has filed a lawsuit against Anheuser-Busch Companies LLC, part of Anheuser-Busch InBev, alleging that Anheuser-Busch's ad campaigns associating MillerCoors' products, Miller Lite and Coor Light, with corn syrup is "false and misleading." During the Super Bowl, ABInBev ran an advertising campaign that mocked Miller Lite and Coors Light use corn syrup in brewing. Shares of Biogen Inc. are falling almost 28 percent in Thursday's trading after the company and Japanese drugmaker Eisai Co. said they will discontinue two late-stage trials for their experimental Alzheimer's drug, Aducanumab. The two Phase 3 trials, ENGAGE and EMERGE, are multi-center, randomized, double-blind, placebo-controlled, parallel-group studies designed to evaluate Aducanumab. The European Union on Wednesday ordered Alphabet Inc.'s Google to pay an antitrust fine of 1.49 billion euros for abusing its dominant position in the online search advertising intermediation market by preventing competition. This is the third antitrust fine by the EU against Google and it represents 1.29 percent of the tech giant's turnover in 2018.
Follow RTT