CAMDEN (dpa-AFX) - Daniel Loeb's Third Point LLC has acquired 17 million shares in Campbell Soup Co. (CPB) for $686.44 million, according to a Form 13-D filing with the U.S. SEC.
Third Point LLC disclosed in a regulatory filing that it believes that the only justifiable outcome of the strategic review is for Campbell Soup to be sold to a strategic buyer.
Responding to the 13D filings, Campbell Soup stated that it is currently undertaking a Board-led comprehensive strategy and portfolio review as previously announced on May 18.
Campbell Soup said it looks forward to sharing the details of its plans when it reports its fourth-quarter and full-year results on August 30.
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