CHICAGO—Campbell Soup Co. said on Oct. 17 that four key shareholders, all descendants of the company’s former chairman John Dorrance, have formally aligned themselves against hedge fund Third Point LLC’s plans to oust the embattled soupmaker’s entire board.
Third Point, which owns 7 percent of Campbell’s stock, fired back hours later, accusing the heirs of trying to frighten smaller shareholders by suggesting that the outcome of a vote next month has been decided before it even takes place.
