Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

PepsiCo Said No Plan to Acquire Mondelez at Peltz Urging

July 17 (Bloomberg) -- PepsiCo Inc. doesn’t plan to heed a proposal by Trian Fund Management LP’s Nelson Peltz, who is urging the soft-drink maker to purchase Mondelez International Inc., according to a person with knowledge of the matter.

PepsiCo also is unlikely to split its global beverage business from its global snacks business, said the person, who asked not to be identified because the company’s dealmaking is handled privately.

Buying Mondelez would be risky for PepsiCo shareholders because of Mondelez’s underperformance and reliance on slow growth Western European markets, this person said. PepsiCo, based in Purchase, New York, earlier had said, “we have a strong growth strategy and structure in place, and our results to date and returns to our shareholders prove that we are a high performing company and our strategy is working. We continue to make significant progress against our strategic priorities and are focused on delivering results and driving long-term shareholder value.”

To contact the reporter on this story: Duane D. Stanford in Atlanta at dstanford2@bloomberg.net

To contact the editor responsible for this story: Kevin Miller at kmiller@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.