Billionaire activist Icahn said to drop proxy battle with Kroger over pig treatment

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 probably would not win a battle with the grocery store chain after dropping an identical combat with McDonald’s (MCD), in keeping with a WSJ report, which cited a letter Icahn plans to ship to Kroger (KR) and McDonald’s holders.

“I congratulate the McDonald’s workforce 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 keeping with 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 weren’t elected to the McDonald’s board.

Icahn started his combat with McDonald’s (MCD) in February in when he nominated two board members in a dispute with the corporate over its therapy of pigs.

In late March he additionally focused Kroger (KR) and nominated two administrators to the grocery store chain’s board in his push for higher remedies of pigs.