Campbell Soup and Third Point Mangement, the hedge fund owned by billionaire Dan Loeb, are reportedly nearing a deal that would shake up the company’s board of directors. Shares of the soup maker were little changed following the news.
Loeb and Third Point are expected to nominate two new board members, Comscore President Sarah Hofstetter and former Blue Buffalo Chief Executive Kurt Schmidt, expanding the size of the board from 12 to 14, The Wall Street Journal reported late Sunday. The hedge fund could also have input on a third director and Campbell’s new CEO, the report said.
Read more starting at ‘A deal is in the works after Third Point released a bizarre video last’ at…….Hedge fund billionaire Dan Loeb is reportedly nearing a deal to shake up Campbell Soup’s board