Carl Icahn is dropping a proxy fight focused on the treatment of pregnant pigs at grocery-chain Kroger Co. after concluding he is likely to lose as he did a similar fight at McDonald’s Corp. last month.
“I congratulate the McDonald’s team on their victory in this proxy engagement and, after much contemplation, given the company’s financial position, I believe the same outcome will result at Kroger,” he said in a letter he plans to send to Kroger and McDonald’s shareholders that was viewed by The Wall Street Journal.
