Campbell’s Soup Gets Some Terrible News, Stock Up While You Can
Campbell’s Soup, an iconic American brand, is facing uncertainty as reports suggest it may be shutting down. The company, which has been around for nearly two centuries, is struggling with $9 billion in debt after attempting to diversify by acquiring other companies.
The Dorrance family, which owns 40% of Campbell’s, is resisting changes proposed by hedge fund manager Daniel Loeb of Third Point, who owns 7% of the company’s stock. Loeb has pushed for a rebrand, including altering the classic red and white cans, and even filed a lawsuit accusing Campbell’s of mismanagement. A recent agreement to add two of Loeb’s proposed directors to the board hints at potential changes ahead as the company navigates its financial challenges
