Peltz has reportedly acquired at least $2bn worth of shares in ‘a concerted buying spree’ via his Trian Fund Management. The reports sent shares in both companies climbing by over 3% amid speculation that Peltz and other investors could push for PepsiCo to split its snack and drink businesses or merge with Mondelez – or both.
Another activist investor, Relational Investors LLC, is in the mix – after acquiring a stake in PepsiCo last year, when it told PepsiCo the slower-growing beverage business should eventually be split from the rest of the company to maximise returns.
Peltz, Trian Fund Management and PepsiCo have so far declined to comment. Meanwhile, according to reports, a spokesman for Mondelez said he was not aware if Peltz had a stake in the company.
Source: Wall Street Journal/Telegraph/CNBC
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