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Home / Business / Campbell Soup plans to sell its international and fresh food units

Campbell Soup plans to sell its international and fresh food units



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 ̵

1; the man who calls many invented condensed soup – have been able to multiply over many different clans over the years, and they did not agree on whether to sell, CNBC said.

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. [196592002] "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.


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