The potential divestitures are unlikely to help soothe Dan Loeb's Third Point, which recently disclosed a 5.65 percent stake in the company and described a sale of the company as "the only acceptable outcome" of its review. The activist joins shareholder George Strawbridge, a founder's family member, to claim the sale.
Strawbridge had his own post on the Campbell Board, where he served from 1988 to 2009. A businessman in his life With his outings, which included a Buffalo Sabers stake NFL team, Strawbridge spent time on the board, actively and questioningly.
For Third Point to agitate for a sale, he needed to gain enough family support. The descendants of John P. Dorrance ̵
Mary Alice Dorrance Malone is Campbell's largest shareholder with a 17.7 percent stake in the company. Her brother, Bennett Dorrance, has a share of 15.4 percent. Other offspring together hold 7.9 percent of the company in the Campbell Soup Voting Trust.
Without a sale, Loeb and Strawbridge could seek full revenue from the Campbell Board, which is scheduled for reelection this year.  "Only a reconstituted board, free from the need to defend past actions and other legacies, will be able to objectively examine all strategic alternatives, including a sale of [Campbell] or other business combinations, reflecting the value [Campbell’s] shares, "wrote Strawbridge recently.
Threatens the three inheriting heirs: Bennett, Mary Alice and her nephew Archie Van Buren. Van Buren is the only one who has worked in the business for a long time, giving him a unique insight into his ins and outs.