Advertisement
 
YOU ARE HERE: LAT HomeCollectionsQuakers
IN THE NEWS

Quakers

BUSINESS
July 3, 2001 | Reuters
Quaker Oats Co. gave proposed buyer PepsiCo Inc. an additional 30 days to sell its All Sport beverage unit, providing extra time for the companies to get regulatory approval for their $13.5-billion merger. The extension comes less than a month after Pepsi said its acquisition of Quaker Oats would be delayed until later in the third quarter as talks with Federal Trade Commission officials continued.
Advertisement
BUSINESS
January 12, 2001 | Bloomberg News
Quaker Oats Co. Chief Executive Robert Morrison will get a payment of about $19.3 million if he stays at least 18 months after PepsiCo Inc. completes its planned purchase. The payment is in addition to his $1.11-million annual salary. Morrison agreed to remain Quaker Oats' chairman, president and CEO after the acquisition. He also will become co-vice chairman of PepsiCo with Roger Enrico, the soft-drink maker's current chairman and CEO.
BUSINESS
December 4, 2000 | BRAD FOSS, ASSOCIATED PRESS
PepsiCo Inc. has agreed to pay $13.4 billion in stock to acquire Quaker Oats Co., a source familiar with the negotiations said, ending more than a month of speculation over who might acquire the maker of Gatorade and Cap'n Crunch cereal. The boards of both companies approved the deal over the weekend and an announcement is scheduled for today, the source told Associated Press on Sunday on the condition of anonymity.
BUSINESS
December 1, 2000 | Bloomberg News
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.
BUSINESS
November 24, 2000 | From Reuters
French food group Danone abruptly pulled out of the bidding for Quaker Oats on Thursday, leaving the U.S. cereals group without a suitor. News that Danone had given up interest came just 24 hours after it announced it wanted to buy Quaker, maker of the best-selling Gatorade sports drink and Quaker oatmeal. That made Danone the third suitor to flirt with Quaker over the last month, and the third to walk away without a match. The world's two biggest soft drink companies, Coca-Cola Co.
BUSINESS
November 22, 2000 | From Times Wire Services
Coca-Cola Co.'s board of directors late Tuesday decided not to buy Quaker Oats Inc., ending the company's pursuit of the nation's dominant sports beverage, Gatorade. The company, the world's largest soft drink maker, did not say why it had decided not to pursue the deal. Earlier Tuesday, sources familiar with the talks had indicated that the two sides were close to a deal that would have valued Quaker at more than $13 billion.
BUSINESS
November 21, 2000 | BRAD DORFMAN, REUTERS
Coca-Cola Co. is likely to win the race to gobble up Quaker Oats Co. and its prized sports drink Gatorade, analysts said Monday, though Coke's stock fell on concern that a potential bid of as much as $15 billion could be too expensive. Coca-Cola confirmed Monday that it was in discussions with Chicago-based Quaker about a possible transaction but would provide no details.
BUSINESS
November 20, 2000 | ROBIN SIDEL, REUTERS
Coca-Cola Co. is in intensive talks to buy Quaker Oats Co., offering about $15 billion in a deal that would put leading sports drink Gatorade in the hands of the world's largest soft drink maker, sources familiar with the situation told Reuters on Sunday. A deal, which would value Quaker Oats at about $115 a share, could be announced within the next few days, said sources who did not want to be identified.
BUSINESS
November 4, 2000 | From Associated Press
Quaker Oats (ticker symbol: OAT) stock jumped 9% to an all-time high Friday after a failed buyout attempt by PepsiCo (PEP) set the stage for an expected bidding war for Quaker and its blockbuster product, Gatorade. Industry analysts said another bid is possible by Pepsi, despite having its $13.7-billion offer rejected as insufficient by Robert Morrison, head of the Chicago-based food and drinks maker. A source familiar with the discussions said Quaker turned down the bid Thursday.
BUSINESS
November 3, 2000 | From Associated Press
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.
Los Angeles Times Articles
|