Campbell Receives Second Request From FTC Under HSR Act For Proposed Acquisition Of Sovos Brands, Inc.

10/23/23 4:37:44 PM ET

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Campbell Soup Company (NYSE:CPB) today announced it has received a request for additional information from the Federal Trade Commission (FTC) as part of the agency's review of Campbell's proposed acquisition of Sovos Brands, Inc. (NASDAQ:SOVO). A second request for information is a common feature of the regulatory review for transactions of this type under the Hart-Scott-Rodino Antitrust Improvement Act.

The company now expects to complete this transaction in the next calendar year and will continue to engage with the FTC on their review with the objective of closing the transaction in mid-2024.

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Recent Analyst Ratings for
$CPB
$SOVO

Company	Date	Price Target	Rating	Analyst
Campbell Soup Company $CPB	11/14/2024	$47.00 → $56.00	Neutral → Overweight	Piper Sandler
Campbell Soup Company $CPB	10/7/2024	$55.00 → $58.00	Mkt Perform → Outperform	Bernstein
Campbell Soup Company $CPB	9/27/2024	$51.00	Buy → Neutral	DA Davidson
Campbell Soup Company $CPB	9/20/2024	$59.00	Hold → Buy	Argus
Campbell Soup Company $CPB	6/26/2024	$45.00 → $52.00	Neutral → Overweight	JP Morgan
Campbell Soup Company $CPB	5/15/2024	$42.00 → $46.00	Underperform → Mkt Perform	Bernstein
Campbell Soup Company $CPB	3/13/2024	$49.00	In-line	Evercore ISI
Campbell Soup Company $CPB	3/1/2024	$48.00	Buy	DA Davidson

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Campbell Receives Second Request From FTC Under HSR Act For Proposed Acquisition Of Sovos Brands, Inc.

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Campbell Soup shares are trading higher after JP Morgan upgraded the stock from Neutral to Overweight and raised its price target from $45 to $52.

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