Campbell Soup Co. Terminates Material Definitive Agreement

Ticker: CPB · Form: 8-K · Filed: 2024-04-16T00:00:00.000Z

Sentiment: neutral

Topics: agreement-termination, material-agreement

Related Tickers: CPB

TL;DR

CPB just terminated a big deal. WTF?

AI Summary

Campbell Soup Company (CPB) announced on April 16, 2024, the termination of a material definitive agreement. The filing does not specify the counterparty or the nature of the agreement, but it indicates a significant change in a contractual relationship for the company.

Why It Matters

The termination of a material definitive agreement can signal a shift in strategic partnerships, supply chains, or business operations, potentially impacting future revenue and profitability.

Risk Assessment

Risk Level: medium — The termination of a material definitive agreement introduces uncertainty about the company's ongoing business relationships and future plans.

Key Players & Entities

FAQ

What specific material definitive agreement was terminated by Campbell Soup Company?

The filing does not specify the name or details of the material definitive agreement that was terminated.

Who was the counterparty to the terminated agreement?

The filing does not disclose the identity of the other party involved in the terminated agreement.

What is the effective date of the termination?

The filing indicates the earliest event reported was on April 16, 2024, which is also the date of the report.

Does the termination of this agreement have any immediate financial implications disclosed in the filing?

The filing does not provide specific details on immediate financial implications resulting from the termination.

Are there any other items disclosed in this 8-K filing besides the termination of an agreement?

Yes, the filing also lists 'Entry into a Material Definitive Agreement' and 'Financial Statements and Exhibits' as item information.

From the Filing

0001193125-24-097732.txt : 20240416 0001193125-24-097732.hdr.sgml : 20240416 20240416160754 ACCESSION NUMBER: 0001193125-24-097732 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240416 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Termination of a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240416 DATE AS OF CHANGE: 20240416 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CAMPBELL SOUP CO CENTRAL INDEX KEY: 0000016732 STANDARD INDUSTRIAL CLASSIFICATION: FOOD & KINDRED PRODUCTS [2000] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 210419870 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0730 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03822 FILM NUMBER: 24847876 BUSINESS ADDRESS: STREET 1: CAMPBELL PL CITY: CAMDEN STATE: NJ ZIP: 08103 BUSINESS PHONE: 8563424800 MAIL ADDRESS: STREET 1: CAMPBELL PL CITY: CAMDEN STATE: NJ ZIP: 08103 8-K 1 d806817d8k.htm 8-K 8-K CAMPBELL SOUP CO false 0000016732 0000016732 2024-04-16 2024-04-16     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of Earliest Event Reported): April 16, 2024       CAMPBELL SOUP COMPANY (Exact name of registrant as specified in its charter)       New Jersey   1-3822   21-0419870 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.) One Campbell Place Camden , New Jersey 08103-1799 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code: (856) 342-4800     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Capital Stock, par value $.0375   CPB   New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Item 1.01. Entry into a Material Definitive Agreement. On April 16, 2024, Campbell Soup Company (the “Company”) entered into a Five-Year Credit Agreement with JPMorgan Chase Bank, N.A. (“JPMorgan”), as administrative agent, and the other lenders named therein (the “Credit Agreement”). Subject to the terms and conditions set forth in the Credit Agreement, the lenders have provided the Company with an unsecured, senior revolving credit facility in an aggregate principal amount equal to $1.85 billion, which shall have a maturity date of April 16, 2029 or such later date as extended pursuant to the terms set forth in the Credit Agreement. The Company may increase the credit facility commitments up t

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