Aug 10, 2018

Campbell's Soup is under pressure to sell the company

Photo by Justin Sullivan/Getty Images

Campbell's Soup Co. is under pressure from activist investor Dan Loeb, who disclosed around a 6% ownership stake and is pushing for a sale.

Why it's a big deal: Because Loeb also revealed an unexpected ally in George Strawbridge, the 80 year-old grandson of company founder Joseph Campbell, who disclosed a 2.8% stake of his own. This could create an inter-family rift, as other Campbell descendants hold both sizable ownership positions and board seats.

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.

Go deeper

Bernie's juggernaut

Sen. Bernie Sanders speaks in San Antonio last night with his wife, Jane. Photo: Eric Gay/AP

Sen. Bernie Sanders won so big in the Nevada caucuses that Democrats are hard-pressed to sketch a way he's not their nominee.

Driving the news: With 60% of precincts counted (slow, but better than Iowa!), Sanders is running away with 46% of delegates — crushing Joe Biden's 20%, Pete Buttigieg's 15%, Sen. Elizabeth Warren's 10% and Sen. Amy Klobuchar's 5%.

Go deeperArrowUpdated 1 hour ago - Politics & Policy

Buttigieg campaign claims Nevada caucuses were "plagued with errors"

Photo: Win McNamee/Getty Images

Pete Buttigieg's campaign wrote a letter on Sunday asking the Nevada State Democratic Party to release early vote and in-person vote totals by precinct and address certain caucus errors identified by campaigns, The Nevada Independent reports.

The big picture: The campaign alleges that the process of integrating early votes on caucus day was “plagued with errors and inconsistencies,” and says it received more than 200 incident reports from precincts around the state.

Go deeperArrowUpdated 1 hour ago - Politics & Policy

Coronavirus threat grows, threatening some drug supplies

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

As the novel coronavirus continues spreading globally and China grapples with a limited production capability, there's a growing risk to about 150 prescription drugs in the U.S., sources tell Axios.

The big picture: The coronavirus has spread to more countries, with both South Korea and Italy stepping up emergency measures amid rising case numbers on Sunday. COVID-19 has killed at least 2,467 people and infected almost 79,000 others, mostly in mainland China.

Go deeperArrowUpdated 2 hours ago - Health