Trian’s Peltz Says He Thinks Pepsi Should Buy Mondelez

Trian Fund Management LP’s Nelson Peltz said he wants PepsiCo Inc. (PEP) to buy Mondelez International Inc. for $35 to $38 a share in an all-stock deal.

“Pepsi is at a crossroads at this time,” with a cash business and a growth business, Peltz, Trian’s chief executive officer, said today at the CNBC Institutional Investor Delivering Alpha Conference in New York. Pepsi's CEO “inherited a structure that we don’t think works anymore,” he said.

If Pepsi isn’t interested in buying Mondelez, plan B should be to separate beverages from the Frito business, he said.

To contact the reporter on this story: Beth Jinks in New York at

To contact the editor responsible for this story: Elizabeth Wollman at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.