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PepsiCo seen having to raise bids

Reuters

May 08, 2009

Fri May 8, 2009 PHILADELPHIA (Reuters) - PepsiCo Inc (PEP.N) may contend that its rejected takeover bids for its two largest bottlers were "full and fair," but in the end it will likely have to raise its offers if it wants to win one or both of the bottling companies. This week, Pepsi Bottling Group Inc (PBG.N) and PepsiAmericas Inc (PAS.N)...
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Bottler Rejects PepsiCo's Offer

Wall Street Journal

May 05, 2009

Pepsi Bottling Group Inc. rejected a nearly $4.2 billion offer from PepsiCo Inc. to buy the remaining two-thirds stake it doesn't already own of its biggest bottler, calling the bid "grossly inadequate." The move, though not unexpected, illustrates that PepsiCo could face a long slog in its effort to acquire Somers, N.Y.-based Pepsi Bottling...
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Pepsi Bottling Group Rejects PepsiCo Purchase Offer

Bloomberg

May 04, 2009

Pepsi Bottling Group Inc.’s board rejected as “grossly inadequate” PepsiCo Inc.’s cash-and-stock proposal for a remaining stake in the company, leaving PepsiCo to consider a higher bid. PepsiCo offered about $6 billion for Pepsi Bottling Group and PepsiAmericas Inc., its two biggest bottlers, on April 20, representing a 17 percent premium over...
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