| Business

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

Investor pushes for PepsiCo to buy Mondelez

Email Newsletters

Click here to sign up for one of our email newsletters.

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.

Subscribe today! Click here for our subscription offers.



Show commenting policy

Most-Read Business Headlines

  1. Pa., W.Va., Ohio to coordinate efforts to attract shale-related business
  2. Education tech firm Acrobatiq does software to supplement college learning
  3. Chesapeake Energy appoints Brad Martin chairman of the board
  4. Wabtec buying Australian sensor maker Track IQ
  5. As craft fades, personal touch helps Northway Shoes & Repair thrive
  6. State regulators probe car insurer practices
  7. CMU showcases its lengthy list of fledgling companies at venture event
  8. UAW locals compact Fiat Chrysler voting to 2 days
  9. Class action lawsuit in California seeks Volkswagen buyback
  10. Restaurants make themselves appealing to millennials