Third Point ups Campbell Soup stake to nearly 7%

|About: Campbell Soup Company (CPB)|By:, SA News Editor

Campbell Soup (NYSE:CPB) +0.5% after-hours as Daneil Loeb's Third Point Management increases its stake in the company to 6.98% from 5.65% after purchasing more than 4M shares since Sept. 28, according to an SEC filing.

Third Point, which announced its intention to try to replace CPB's entire board earlier this year, has been unhappy with CPB's performance and said the company did not fully evaluate a potential sale as part of a three-month critical review.

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