Sovos Brands stockholders approve acquisition by Campbell for $23 per share

Sovos Brands (SOVO) announced that its stockholders, at a Special Meeting of Stockholders held earlier approved the previously announced acquisition of the Company by Campbell Soup Company (CPB) 92.38% of the Company’s outstanding shares were voted, with 99.99% of the votes cast in favor of the proposal. Under the terms of the merger agreement, Campbell will acquire all the outstanding shares of Sovos Brands, Inc. for $23. per share in cash. The Company will be filing the final voting results on a Form 8-K with the Securities and Exchange Commission. The closing of the transaction remains subject to various closing conditions, including regulatory approval. The Company expects that the transaction will close during the fourth quarter of 2023, assuming that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 relating to the merger has expired or been terminated in this period.