July 20, 2001 |
Attorneys at the Federal Trade Commission have recommended going to court to block PepsiCo Inc.'s bid to buy Quaker Oats Co., maker of Gatorade sports drink, a source close to the case said. PepsiCo Chief Executive Steve Reinemund said the company is "very optimistic" about the deal, but he declined to provide additional details about the pending merger. "We've been in talks with the FTC," PepsiCo spokesman Dick Detwiler said. "We have not been commenting on the details of those discussions.
July 14, 2001 |
A federal judge said he intends to dismiss a class-action lawsuit alleging that Archer Daniels Midland Co., Cargill Inc., Tate & Lyle and Cerestar fix prices in the $2-billion market for high-fructose corn syrup. U.S. District Judge Michael M. Mihm told lawyers in a conference call Wednesday that he plans to dismiss the lawsuit filed in September 1995 by PepsiCo Inc., the Coca-Cola Co. and 24 other food companies.
February 9, 2001
* The Federal Trade Commission has requested more information regarding PepsiCo Inc.'s proposed $14-billion acquisition of Quaker Oats Co., which makes cereal and Gatorade, the leading sports drink. The companies did not say what information the agency had requested but said the move by the FTC, which must approve the deal, had been expected. * * San Francisco-based Catholic Healthcare West, which operates 47 hospitals including St. Vincent Medical Center in Los Angeles and St.
February 6, 2001 |
PepsiCo Inc. posted a 15% rise in fiscal fourth-quarter earnings to $567 million, or 38 cents a share, matching forecasts, on double-digit operating profit growth across its divisions. PepsiCo, whose products include Pepsi and other soft drinks, Doritos snack chips and Tropicana juices, said net sales rose 7.7% to $6.12 billion. Sales growth was led by a 15% increase in North American beverage business, where profit grew 13%.
December 1, 2000 |
PepsiCo Inc., the second-largest soft drink company, resumed talks to buy Quaker Oats Co. for about $13.5 billion to gain its top-selling Gatorade sports drink, a person familiar with the situation said. Negotiations between the companies broke off Nov. 2, sources said. Quaker Oats rejected the beverage maker's all-stock offer because PepsiCo wouldn't fix a price within a set limit on how far its shares might rise or fall.
November 3, 2000 |
Quaker Oats Co. reportedly rejected a $13.7-billion offer on Thursday to be acquired by PepsiCo Inc. After being turned down, PepsiCo seemed unlikely to sweeten its offer of 2.2 of its shares for each share of Quaker Oats, the New York Times and the Wall Street Journal reported late Thursday, citing people close to the negotiations. Neither PepsiCo nor Quaker would comment. The offer valued Quaker shares at $103.53, or 26% above their Thursday closing price of $82.