Carl Icahn Backs From Proxy Fight With Kroger Over Pig Treatment: WSJ

Activist investor Carl Icahn said he is backing from a proxy fight at Kroger Co KR on the treatment of pregnant pigs, the Wall Street Journal reported.
He took the decision after he lost a similar proxy fight with McDonald's Corp MCD over animal welfare.
"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," the report quoted a letter slated for Kroger and McDonald's shareholders.
The point of contention was the gestation crates used by the companies to house pregnant pigs.
Icahn complained that the crates are inhumane as the pigs had little space to move.
He owns less than a 0.1% stake in the company.
Price Action: KR shares are trading higher by 0.07% at $52.58 on the last check Tuesday.