Campbell's Soup is under pressure to sell the company

Campbell's has a market cap of around $12.7 billion and an enterprise value of around $22 billion.

More from WSJ's Cara Lombardo:

Campbell is at a pivotal moment in its 150-year history as its namesake canned soups and other heavily processed foods have fallen out of favor with consumers, and attempts to pivot to fresher offerings such as Bolthouse Farms juices have stumbled. Former CEO Denise Morrison stepped down abruptly in May after a seven-year run and the company said it would review its product portfolio.