Campbell Soup Co (CPB.N) said on Thursday it would sell its international businesses and fresh refrigerated-foods unit, following a months-long strategic review and pressure from hedge fund investors to sell the whole company.

The board kept alive the possibility of an outright sale, saying it “remains open and committed to evaluating all strategic options to enhance value in the future.”

It is not clear if the plan will appease activist investor Dan Loeb, whose Third Point LLC hedge fund announced a 5.65 percent stake on Aug. 9 and immediately pressed for a sale of the entire company to a competitor as “the only justifiable outcome.”

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