TribLIVE

| Business


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

Investor pushes for PepsiCo to buy Mondelez

PEP $85.24 +$1.22

at close on WEDNESDAY

Daily Photo Galleries

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. Mylan CEO Bresch sets sights on growth
  2. UPMC buying New Castle-based Jameson Health System
  3. U.S. Steel to restructure Canadian subsidiary, halt 2 U.S. expansion projects
  4. 2 top executives at Dick’s Sporting Goods to retire
  5. EPA extends comment period on power plant proposal
  6. Tobacco growers forced to find profits as buyout checks end in October
  7. American Airlines agents vote to join union
  8. Fed speculation fuels stock gains; Dow rises 100 points
  9. Envelopes in Marriott hotels invite tips for maids
  10. Pa. considers $300,000 plan to clean polluted site in Kennedy
  11. UPS expects to hire up to 95K seasonal workers
Subscribe today! Click here for our subscription offers.