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Campbell Soup Co (CPB.N)

CPB.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Campbell Soup Company Announces CEO Transition Plan
Friday, 18 May 2018 

May 18 (Reuters) - Campbell Soup Co ::MPANY ANNOUNCES CEO TRANSITION PLAN.SAYS KEITH R. MCLOUGHLIN APPOINTED INTERIM CEO.DENISE M. MORRISON, PRESIDENT AND CHIEF EXECUTIVE OFFICER AND A DIRECTOR, HAS CHOSEN TO RETIRE EFFECTIVE TODAY.CAMPBELL SOUP - COO LUCA MIGNINI WILL FOCUSES ON INTEGRATION OF NEWLY ACQUIRED SNYDER'S-LANCE, PACIFIC FOODS AND STABILIZING CO'S U.S. SOUP BUSINESS.  Full Article

Campbell Soup Announces Strategic Reorganization
Thursday, 5 Apr 2018 

April 5 (Reuters) - Campbell Soup Co ::CAMPBELL ANNOUNCES STRATEGIC REORGANIZATION.CAMPBELL SOUP CO - LUCA MIGNINI NAMED CHIEF OPERATING OFFICER.CAMPBELL SOUP CO - ANA DOMINGUEZ NAMED PRESIDENT OF CAMPBELL FRESH.CAMPBELL SOUP CO - EMILY WALDORF PROMOTED TO SENIOR VICE PRESIDENT OF CORPORATE STRATEGY.CAMPBELL SOUP CO - COMPANY CREATES "NEW ACCELERATOR UNIT TO DRIVE GROWTH IN FASTER-GROWING SPACES, INCLUDING CAMPBELL FRESH".CAMPBELL SOUP CO - HAS INITIATED AN EXTERNAL SEARCH FOR A CHIEF ACCELERATION OFFICER.CAMPBELL SOUP CO - CAMPBELL'S DIGITAL AND E-COMMERCE UNIT WILL BECOME PART OF NEW ACCELERATOR UNIT.CAMPBELL SOUP CO - CAMPBELL FRESH WILL ALSO BECOME PART OF ACCELERATOR UNIT.CAMPBELL SOUP CO - ANA DOMINGUEZ TO REPORT TO DENISE MORRISON UNTIL A CAO IS NAMED.  Full Article

Snyder's-Lance Receives Shareholder Approval For its sale to Campbell
Friday, 23 Mar 2018 

March 23 (Reuters) - Snyder's-Lance Inc ::SNYDER’S-LANCE, INC. RECEIVES SHAREHOLDER APPROVAL FOR PROPOSED ACQUISITION BY CAMPBELL SOUP COMPANY.SNYDER'S-LANCE INC - MORE THAN 99.33% OF VOTES CAST IN FAVOR OF DEAL PROPOSAL.  Full Article

Campbell Soup Authorizes Additional Pre-Tax Costs For Expanded Initiatives
Wednesday, 24 Jan 2018 

Jan 24 (Reuters) - Campbell Soup Co ::CAMPBELL SOUP CO - ON JAN 18, 2018, CO AUTHORIZED ADDITIONAL PRE-TAX COSTS FOR EXPANDED INITIATIVES TOTALING ABOUT $125 MILLION TO $140 MILLION.CAMPBELL SOUP - EXPECTS TO INVEST ABOUT $250 MILLION IN CAPEX IN CONNECTION WITH COST SAVINGS ACTIONS - SEC FILING.CAMPBELL SOUP - OF $515 MILLION TO $560 MILLION OF PRE-TAX COSTS, CO EXPECTS ABOUT $415 MILLION TO $460 MILLION TO BE CASH EXPENDITURES.  Full Article

Campbell Soup Says Entered Into Three-Year Credit Agreement With Credit Suisse, Cayman Islands Branch ‍​
Friday, 29 Dec 2017 

Dec 29 (Reuters) - Campbell Soup Co ::CAMPBELL SOUP CO - ENTERED INTO A THREE-YEAR CREDIT AGREEMENT WITH CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH ‍​.CAMPBELL SOUP - SUBJECT TO TERMS OF AGREEMENT, LENDERS PROVIDED CO WITH SINGLE DRAW, UNSECURED, SENIOR TERM LOAN CREDIT FACILITY OF $1.20 BILLION.CAMPBELL SOUP- PROCEEDS OF LOANS UNDER CREDIT AGREEMENT CAN ONLY BE USED FOR ACQUISITION BY CO OF SNYDER'S-LANCE, PAYMENT OF RELATED FEES - SEC FILING.  Full Article

Campbell Soup Co Says Snyder's-Lance Deal Represents Enterprise Value Of About $6 Bln
Monday, 18 Dec 2017 

Dec 18 (Reuters) - Campbell Soup Co ::CAMPBELL SOUP CO - SNYDER'S-LANCE DEAL REPRESENTS ENTERPRISE VALUE OF ABOUT $6 BILLION - SEC FILING‍​.CAMPBELL SOUP CO - SNYDER'S-LANCE DEAL EXPECTED TO BE 5-7% ACCRETIVE TO FY 2019 EPS.CAMPBELL SOUP-UNDER MERGER AGREEMENT, SNYDER'S-LANCE WILL PAY A TERMINATION FEE OF $149 MILLION TO CO IF DEAL IS TERMINATED DUE TO CERTAIN CONDITIONS‍​.CAMPBELL SOUP-UNDER MERGER AGREEMENT, CO WOULD PAY A TERMINATION FEE OF $50 MILLION TO SNYDER'S-LANCE, IN CERTAIN CIRCUMSTANCES, IF DEAL IS TERMINATED.CAMPBELL SOUP CO SAYS $275 MILLION - $325 MILLION OF EXPECTED ONE-TIME COSTS FROM SNYDER'S-LANCE DEAL.  Full Article

Campbell To Acquire Snyder’S-Lance, Inc For $4.87 bln
Monday, 18 Dec 2017 

Dec 18 (Reuters) - Snyder's-Lance Inc ::CAMPBELL TO ACQUIRE SNYDER’S-LANCE, INC. TO EXPAND IN FASTER-GROWING SNACKING CATEGORY.SNYDER'S-LANCE INC - DEAL FOR ‍$50.00 PER SHARE IN AN ALL-CASH TRANSACTION​.SNYDER'S-LANCE INC - ‍EXPECTS APPROXIMATELY $170 MILLION IN COST SYNERGIES BY END OF FISCAL 2022​.SNYDER'S-LANCE INC - CAMPBELL PLANS TO FINANCE ACQUISITION THROUGH $6.2 BILLION OF DEBT COMPRISING A COMBINATION OF LONG-TERM AND SHORT-TERM DEBT.SNYDER'S-LANCE INC - ‍EXPECTS APPROXIMATELY $170 MILLION IN COST SYNERGIES BY END OF FISCAL 2022 FROM DEAL​.SNYDER'S-LANCE INC - ‍CAMPBELL'S ANNUAL NET SALES EXPECTED TO EXCEED $10 BILLION​.SNYDER'S-LANCE INC - ‍ACQUISITION EXPECTED TO BE ACCRETIVE TO CAMPBELL'S EARNINGS PER SHARE IN FISCAL 2019​.SNYDER'S-LANCE INC - ‍SNYDER'S-LANCE WILL BECOME PART OF CAMPBELL'S GLOBAL BISCUITS AND SNACKS DIVISION​.SNYDER'S-LANCE INC - ‍CAMPBELL WILL SUSPEND SHARE REPURCHASES TO MAXIMIZE FREE CASH FLOW FOR PURPOSES OF PAYING DOWN DEBT​.SNYDER'S-LANCE INC - ‍CAMPBELL ALSO EXPECTS TO MAINTAIN ITS CURRENT DIVIDEND POLICY​.SNYDER'S-LANCE INC - SOME MEMBERS OF WAREHIME FAMILY, WHO OWN 13.2 PERCENT OF CO'S STOCK, HAVE AGREED TO VOTE THEIR SHARES IN SUPPORT OF DEAL.SNYDER'S-LANCE INC - ‍ ACQUISITION HAS BEEN APPROVED BY BOARDS OF DIRECTORS OF BOTH COMPANIES​.SNYDER'S-LANCE -WITH ADDITION OF CO'S COMPLEMENTARY PORTFOLIO, SNACKING WOULD REPRESENT ABOUT 46 PERCENT OF CAMPBELL'S ANNUAL NET SALES ON PRO FORMA BASIS​.  Full Article

Campbell Soup In Advanced Talks To Acquire Snyder's-Lance - CNBC
Friday, 15 Dec 2017 

Dec 15 (Reuters) - :CAMPBELL SOUP IN ADVANCED TALKS TO ACQUIRE SNYDER'S-LANCE IN A DEAL THAT COULD BE ANNOUNCED AS SOON NEXT WEEK‍​ - CNBC, CITING SOURCES.  Full Article

Campbell reports Q1 adjusted earnings per share of $0.92
Tuesday, 21 Nov 2017 

Nov 21 (Reuters) - Campbell Soup Co :Campbell reports first-quarter results.Q1 adjusted earnings per share $0.92.Q1 earnings per share $0.91.Q1 earnings per share view $0.97 -- Thomson Reuters I/B/E/S.Q1 sales $2.161 billion versus I/B/E/S view $2.17 billion.Campbell Soup Co - ‍updates fiscal 2018 guidance​.Campbell Soup Co - ‍for full fiscal year, Campbell still expects year-over-year change in net sales to be -2 to 0 percent​.Campbell Soup Co - ‍current quarter included pre-tax charges related to cost savings initiatives of $19 million, or $0.04 per share​.Campbell Soup Co - qtrly‍ Americas Simple Meals and Beverages sales decreased 5 percent to $1.218 billion​.Campbell Soup Co qtrly ‍sales of U.S. Soup decreased 9 percent​.Campbell Soup - ‍for full fiscal year lowered earnings outlook & now expects adjusted EBIT to change by -4 to -2 percent and adjusted EPS to change by -3 to -1 percent​.Campbell Soup Co - sees fiscal 2018 ‍adjusted EPS to change by -3 to -1 percent, or $2.95 to $3.02 per share​.Campbell Soup Co says "‍this was a difficult quarter, particularly for our U.S. Soup business​".Campbell Soup- ‍change in guidance for adjusted EBIT,adjusted EPS due primarily to co's gross margin performance in Q1 & revised outlook for balance of fiscal year​.Campbell Soup - ‍"operating environment remains volatile with a rapidly evolving retailer landscape and competitive activity pressuring the top line​".FY earnings per share view $3.05 -- Thomson Reuters I/B/E/S.  Full Article

Campbell Soup- CEO's FY2017 compensation was $8.9 mln vs. $12.9 mln in 2016
Friday, 6 Oct 2017 

Oct 6 (Reuters) - Campbell Soup Co :Campbell Soup Co says CEO Denise Morrison‍​'s FY 2017 total compensation was $8.9 million versus $12.9 million in FY 2016 - SEC filing.  Full Article

RPT-Wall St Week Ahead-Investors focusing on profit margins as rising prices, wages start to bite

NEW YORK, June 8 For years U.S. inflation has been the dog that did not bark, but rising prices and wages are now showing signs of squeezing profit margins across corporate America, leading investors to punish companies whose results are deteriorating.