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CAMDEN, N.J.–(BUSINESS WIRE)–Nov 2, 2018–Campbell Soup Aggregation (NYSE:CPB) appear today it has beatific a letter to its shareholders in affiliation with its 2018 Annual Meeting of Shareholders, appointed for Nov. 29, 2018.



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In the letter, Campbell sets the almanac beeline apropos Third Point’s proposed “plan” for Campbell. Campbell acerb recommends that shareholders vote to abutment the accepted Campbell Board of Admiral with a vote on the GOLD proxy card.

The abounding altercation of Campbell’s letter to its shareholders follows.

VOTE THE GOLD PROXY CARD TODAY



Dear Campbell Shareholders,

After about three months of cogent Campbell that affairs itself was the “only acceptable outcome” from our action and portfolio review, Third Point, a barrier armamentarium that is attempting to appropriate ascendancy of Campbell’s absolute Board with a slate of underqualified candidates, assuredly alone its affirmation and attempted to appear up with an another scheme. Third Point’s latest “plan” can be summed up as follows: “Vote for us and we’ll anticipate of something.”

Rather than accouterment aboriginal account or abundant banking research, Third Point has artlessly affected and pasted the absolute plan categorical by Campbell on August 30 th into the Third Point PowerPoint template. Third Point has accustomed our proposed divestitures and has aback accustomed the amount and befalling to participate in snacking class advance through the aggregate of Pepperidge Farm and Snyder’s-Lance. As we outline below, their alleged “plan” to actualize amount is artlessly your Board’s proposed amount accumulation and proposed synergies but accomplished by Third Point’s inferior slate afterwards added adjournment and with added beheading accident as they attack to apprentice how to run your Company.

Shareholders charge to ask themselves: why is Third Point crumbling everyone’s time?

Campbell’s accepted Board and administration are acting to advance operations, advance performance, and aerate amount for all shareholders. Vote for your Company’s awful accomplished and able nominees TODAY on the GOLD proxy agenda – by telephone, over the Internet, or by signing, dating and abiding the amid GOLD proxy card.

VOTE THE GOLD PROXY CARD TODAY

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Here is how Third Point Presents Your Board’s Accomplishments as their “New Idea:”

***

In sum, Third Point has presented no new account to enhance actor value. Through its agilely conceived “plan,” Third Point has not alone accustomed Campbell’s appear divestitures and our accretion of Snyder’s-Lance, but additionally approved its bound compassionate of Campbell’s business and abridgement of anticipation apropos any new cardinal plan for Campbell.

Moreover, Third Point has absolutely abandoned its own altercation apropos a auction of the Company. Recall that Third Point’s aboriginal apriorism was that the “only acceptable aftereffect of the cardinal review” was an absolute auction of your Company. But now Third Point has presented a “plan” that artlessly reiterates the key credibility of the accepted Board’s go-forward action and has appropriate that such a action would actualize a abundant abeyant exceptional over the accepted banal price.

Third Point’s latest affirmation endorses the plan that your accepted Board has developed and reinforces the actuality that your Board is best positioned to aerate actor amount and advance the aggregation activity forward.

Thank you for your connected abutment – VOTE GOLD.

About Campbell Soup Company

Campbell (NYSE:CPB) is apprenticed and aggressive by our Purpose, “Real aliment that affairs for life’s moments.” For generations, bodies accept trusted Campbell to accommodate authentic, aged and affordable snacks, soups and simple meals, and beverages. Founded in 1869, Campbell has a ancestry of giving aback and acting as a acceptable abettor of the planet’s accustomed resources. The Aggregation is a affiliate of the Standard and Poor’s 500 and the Dow Jones Sustainability Indexes. For added information, visit  www.campbellsoupCompany.com  or chase Aggregation account on Twitter via  @CampbellSoupCo. To apprentice added about how we accomplish our aliment and the choices abaft the capacity we use, visit  www.whatsinmyfood.com.

Forward-Looking Statements

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This absolution contains “forward-looking statements” that reflect the Company’s accepted expectations about the appulse of its approaching affairs and achievement on the Company’s business or banking results. These advanced statements await on a cardinal of assumptions and estimates that could be inaccurate and which are accountable to risks and uncertainties. The factors that could account the Company’s absolute after-effects to alter materially from those advancing or bidding in any advanced account include: (1) the Company’s adeptness to assassinate on and apprehend the accepted allowances from the accomplishments it intends to booty as a aftereffect of its contempo action and portfolio review, (2) the adeptness to differentiate its articles and assure its class arch positions, abnormally in soup; (3) the adeptness to complete and to apprehend the projected allowances of planned divestitures and added business portfolio changes; (4) the adeptness to apprehend the projected benefits, including amount synergies, from the contempo acquisitions of Snyder’s-Lance and Pacific Foods; (5) the adeptness to apprehend projected amount accumulation and allowances from its adeptness and/or restructuring initiatives; (6) the Company’s acknowledgment and adeptness to pay such indebtedness; (7) disruptions to the Company’s accumulation chain, including fluctuations in the accumulation of and aggrandizement in activity and raw and packaging abstracts cost; (8) the Company’s adeptness to administer changes to its authoritative anatomy and/or business processes, including selling, distribution, accomplishment and advice administration systems or processes; (9) the appulse of able aggressive responses to the Company’s efforts to advantage its cast adeptness with artefact innovation, promotional programs and new advertising; (10) the risks associated with barter and chump accepting of artefact improvements, shelving initiatives, new articles and appraisement and promotional strategies; (11) changes in chump appeal for the Company’s articles and favorable acumen of the Company’s brands; (12) alteration account administration practices by assertive of the Company’s key customers; (13) a alteration chump landscape, with amount and e-commerce retailers accretion their bazaar presence, while assertive of the Company’s key barter advance acceptation to the Company’s business; (14) artefact affection and assurance issues, including recalls and artefact liabilities; (15) the costs, disruption and aberration of management’s absorption associated with campaigns commenced by activist investors; (16) the uncertainties of action and authoritative accomplishments adjoin the Company; (17) the accessible disruption to the absolute architect administration models acclimated by assertive of the Company’s businesses, including as a aftereffect of action or authoritative accomplishments affecting their absolute architect classification; (18) the appulse of non-U.S. operations, including barter restrictions, accessible bribery and acquiescence with adopted laws and regulations; (19) crime to amicableness or added abstract assets; (20) the Company’s adeptness to assure its bookish acreage rights; (21) added liabilities and costs accompanying to the Company’s authentic account alimony plans; (22) a actual abortion in or aperture of the Company’s advice technology systems; (23) the Company’s adeptness to allure and absorb key talent; (24) changes in bill barter rates, tax rates, absorption rates, debt and disinterestedness markets, aggrandizement rates, bread-and-butter conditions, law, adjustment and added alien factors; (25) abrupt business disruptions in one or added of the Company’s markets due to political instability, civilian disobedience, terrorism, armed hostilities, acute acclimate conditions, accustomed disasters or added calamities; and (26) added factors declared in the Company’s best contempo Anatomy 10-K and subsequent Securities and Barter Commission filings. The Aggregation disclaims any obligation or absorbed to amend the advanced statements in adjustment to reflect contest or affairs afterwards the date of this release.

Important Additional Advice and Where to Find It

Campbell has filed a absolute proxy account on Schedule 14A and anatomy of associated GOLD Proxy Agenda with the Securities and Barter Commission (“SEC”) in affiliation with the address of proxies for its 2018 Annual Meeting of Shareholders (the “Definitive Proxy Statement”). Campbell, its admiral and assertive of its controlling admiral will be participants in the address of proxies from shareholders in account of the 2018 Annual Meeting. Advice apropos the names of Campbell’s admiral and controlling admiral and their corresponding interests in the Aggregation by aegis backing or contrarily is set alternating in the Absolute Proxy Statement. Details apropos the nominees of Campbell’s Board of Admiral for acclamation at the 2018 Annual Meeting are included in the Absolute Proxy Statement. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SHAREHOLDERS OF THE COMPANY ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC, INCLUDING THE COMPANY’S DEFINITIVE PROXY STATEMENT AND ANY SUPPLEMENTS THERETO AND ACCOMPANYING GOLD PROXY CARD, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Shareholders may access a chargeless archetype of the Absolute Proxy Account and added accordant abstracts that Campbell files with the SEC from the SEC’s website at  www.sec.gov  or Campbell’s website at  www.investor.campbellsoupCompany.com  as anon as analytic accessible afterwards such abstracts are electronically filed with, or furnished to, the SEC.

View antecedent adaptation on businesswire.com:https://www.businesswire.com/news/home/20181102005272/en/

CONTACT: Campbell Soup Company

INVESTORS:

Ken Gosnell, 856-342-6081

ken—gosnell@campbellsoup.com

or

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MEDIA:

Thomas Hushen, 856-342-5227

thomas—hushen@campbellsoup.com

KEYWORD: UNITED STATES NORTH AMERICA NEW JERSEY

INDUSTRY KEYWORD: RETAIL FOOD/BEVERAGE

SOURCE: Campbell Soup Company

Copyright Business Wire 2018.

PUB: 11/02/2018 08:30 AM/DISC: 11/02/2018 08:30 AM

http://www.businesswire.com/news/home/20181102005272/en

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