The withdrawal is to provide the FTC with more time to review PepsiCo’s proposal to acquire all of the outstanding shares of common stock it doesn’t already own in its two largest anchor bottlers, The Pepsi Bottling Group Inc and PepsiAmericas Inc under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act).
PepsiCo plans to refile at the appropriate time.
PepsiCo originally filed its notification and report forms on 11 September and refiled them on 15 October. The current withdrawal and future refiling of its PBG and PAS notification and report forms will provide the FTC with more time to review the information submitted by PepsiCo without requiring a Request for Additional Information.
PepsiCo says it will continue to respond to any informal requests by the staff of the FTC to provide additional information about the businesses of PepsiCo, PBG and PAS and will continue to discuss the proposed transactions and answer any additional questions raised by the staff.
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