N.Y. Times: Heirs Residing in Chester County, Hedge Fund Clash over Fate of Campbell Soup

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Campbell Soup Company's headquarters in Camden, N.J.

Two heirs of Campbell Soup who reside in Chester County are on opposing sides in the clash over the company’s future, writes Nelson Schwartz for The New York Times.

Third Company, Daniel Loeb’s hedge fund, has been pushing for the sale or restructuring of the company that was founded nearly 150 years ago. John T. Dorrance was the chemist who invented condensed soup

For months, Loeb’s hedge fund has been exchanging barbed letters with Campbell Soup. In the conflict, Cochranville resident George Strawbridge Jr., Dorrance’s grandson who owns close to three percent of the company, decided to side with the hedge fund.

On the other side is Coatesville resident Mary Alice Malone, a board member and Dorrance’s granddaughter, and dozens of other family members who jointly own around 40 percent of the company.

On Nov. 29, company shareholders will vote on the Third Point proposal to take five seats on the company’s board.

Read more about the future of Campbell Soup in The New York Times here.

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