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Dan Loeb's Third Point builds $686 million stake in Campbell Soup, urges sale

Tomi Kilgore

Shares of Campbell Soup Co. (cpb) rose 1.2% in premarket trade, after activist investor Dan Loeb's hedge fund Third Point LLC disclosed that it spent about $686.4 million to acquire a 5.65% stake in the convenience foods company. Third Point said it bought most of its 17 million-share stake after