RE-CBP Dan Loeb is seeking to unlock value in Campbell's. There is much doubt about his success trying. Does the Dorrance family risk their CPB stake, and their future dividend income? In current economic conditions. IMO Doing nothing, would be like them letting their Campbell's Tomato wither on the vine.
JMO
P.S.
I think the street thinks CPB overpaid for LNCE. IMO they most likely did , but had to pay a knock out blow price to prevent another bidder. Saw the W. Buffett CNBC interview today. Could help myself on some speculative thinking . Thinking He & C. Munger might want to go out with a Iconic acquisition bang. A hypothetical try must be Dorrance family approved however. Charlie seems to think Warren has has a ways to go, but not himself.
SNIP-Loeb sees Campbell as undervalued, a third source, who declined to give further details, said.
The move would be more dramatic than the one the company took in May, when Campbell, without hiring a bank, said it would review all aspects of its strategic plan and portfolio composition.
The outcome of that review is expected by Aug. 31.
Loeb is asking Campbell to drop all other alternatives and focus just on a sale, sources said.
The country’s biggest soup maker held a board meeting last week, but took no action on the Loeb suggestion and allowed the original review to proceed, a source said.
Loeb has his work cut out for him.
nypost.com
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