Campbell Soup has set Nov. 29 as the date in which shareholders will meet to vote on the company's board as it battles off a proxy war waged by activist fund Third Point.
Third Point earlier this year revealed a 5.65 percent stake in Campbell. In September, it announced its intention to try to replace the entire Campbell board, unhappy with the results of Campbell's three-month critical review.
The review was sparked by Campbell's disappointing earnings and surprise departure of its CEO. While Loeb has pushed for Campbell to sell itself as part of the review, Campbell announced in August that it plans to sell its international and fresh food businesses.
Of Third Point's campaign, Campbell said on Thursday the "New York-based hedge fund that only recently became a Campbell shareholder and held material short positions in Campbell stock for most of 2017, is attempting to deprive shareholders of the future value potential of Campbell by forcing a sale of your Company while we are executing on our strategic plan to create value."
It added that the board "strongly objects to Third Point's aggressive and short-sighted tactics and urges shareholders to reject the hedge fund's misguided efforts and 'one-point' agenda for Campbell."
Third Point, meantime, made public Thursday its request for Campbell board records.
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