TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Investor pushes for PepsiCo to buy Mondelez

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

PEP $85.24 +$1.22

at close on WEDNESDAY

By The Associated Press
Thursday, July 18, 2013, 12:01 a.m.
 

Activist investor Nelson Peltz said he wants PepsiCo to buy Oreo cookie maker Mondelez and spin off its own underperforming beverage unit.

During an interview on CNBC, Peltz said he talked about the proposal with PepsiCo CEO Indra Nooyi. He said he has a meeting planned with Mondelez's CEO in the next couple of weeks.

Speculation that Peltz could push for a combination of the two snack-food giants began earlier this year, with his Trian Fund Management disclosing stakes in the two companies.

The New York native is known for building stakes in companies then forcing change.

Mondelez and PepsiCo, whose financial performances have both been under scrutiny lately, have said they're happy with their current portfolios. PepsiCo makes Frito-Lay snacks.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Energy sector adjusts to global oil plummet
  2. Real estate union: Howard Hanna buys Langholz Wilson Ellis
  3. Diane Stafford: Consider digital footprint
  4. New York farmers lament lost opportunity for gas riches
  5. U.S. coal mines nearing record low in worker deaths
  6. ‘Staff Pick’ is golden ticket on Kickstarter
  7. Drought opens Texas ranchers’ eyes to income options
  8. ‘Cause for Paws’ telethon helps dogs find homes
  9. 8 Western Pennsylvania hospitals penalized over infections
  10. FedEx to buy product-return firm Genco in e-commerce push
  11. Natural gas groups says increase in Pennsylvania taxes would bring dire results for economy
Subscribe today! Click here for our subscription offers.