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Activists at Work: Campbell Soup

Third Point owns 21,000,000 shares of the food-and-beverage company, or 7% of the outstanding stock. On Nov. 26, it revealed that it had entered a support agreement with Campbell that resulted in Third Point dropping its proxy contest at the Nov. 29 annual shareholders meeting. Campbell also agreed to expand its board to 14 seats from 12 and appoint two Third Point designees to fill those openings.