Billionaire activist Icahn said to quit proxy war with Kroger over swine treatment

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Billionaire activist Carl Icahn is reportedly planning to drop his proxy war with supermarket giant Kroger (NYSE:KR) for the treatment of pregnant pigs.

Icahn said that he likely won’t win a battle with supermarket chain after losing a similar war with McDonald’s (MCD), according to a WSJ . Reportwhich quotes a letter Icahn intended to send to Kroger (KR) and McDonald’s holders.

“I congratulate the McDonald’s team on winning this proxy engagement, and after much consideration, based on the company’s financial position, I believe Kroger will have a similar outcome,” Icahn said in a statement. the letter, according to the WSJ.

McDonald’s owners last month voted to re-elect all 12 of the fast-food chain’s directors. Preliminary results indicate that the two Icahn nominees receive approximately 1% of the company’s outstanding shares, and not elected to McDonald’s board of directors.

Icahn started a war with McDonald’s (MCD) in February while he nominated two board members in a dispute with the company over the treatment of their pigs.

At the end of March, he also targeted Kroger (KR) and nominated two directors to the board of the supermarket chain to promote swine treatment.

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