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The Wall Street Journal: Daniel Loeb’s Third Point has built $300 million stake in Campbell Soup

Activist investor Third Point LLC has built a stake of more than $300 million in Campbell Soup Co., according to a person familiar with the matter, adding to pressure on the soup maker as it seeks to turn around its business and reverse a sharp stock-price decline.

While it isn’t clear exactly how big the stake is, it amounts to more than 2.5% of Campbell’s CPB, -0.10% stock. Third Point had filed for antitrust clearance to build a stake of at least that size — necessary if the firm may get involved with business decisions at the company — and the 30-day waiting period expired earlier this week, people familiar with the matter said.

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