Billionaire activist Carl Icahn is alleged to plan to drop his proxy combat with grocery store large Kroger (NYSE:KR) over its therapy of pregnant pigs.
Icahn stated he seemingly would not win a battle with the grocery store chain after shedding an identical combat with McDonald’s (MCD), in response to a WSJ report, which cited a letter Icahn plans to ship to Kroger (KR) and McDonald’s holders.
“I congratulate the McDonald’s crew on their victory on this proxy engagement and, after a lot contemplation, given the corporate’s monetary place, I imagine the identical consequence will end result at Kroger,” Icahn stated within the letter, in response to the WSJ.
McDonald’s holders final month voted to re-elect all 12 of the fast-food chain’s administrators. Preliminary outcomes indicated that Icahn’s two nominees obtained roughly 1% of the corporate’s excellent shares and have been not elected to the McDonald’s board.