Campbell and Third Point Settle, Adding Two Directors

A doomed proxy battle over the future of the soup maker has ended days before a shareholder vote.

(Jim R. Bounds/Bloomberg)

(Jim R. Bounds/Bloomberg)

Campbell Soup Co. agreed to add two new directors to its 12-person board in a settlement with Dan Loeb’s Third Point hedge fund just three days before a contentious shareholder vote was scheduled.

The agreement, announced Monday, ends what looked to be a doomed battle by the activist hedge fund since it first revealed its stake in July.


To continue reading, subscribe now to Premium Journalism. Already a subscriber? login.