Global food company PepsiCo has made an offer to both its Anchor Bottling groups to buy the shares it doesn’t already own.
The consolidation proposal would give the company control of 80% of its North American soft drink distribution.
PepsiCo spun off the two companies 10 years ago to focus on what it does best, namely the marketing and expansion of its soft-drinks portfolio. However, in an ever changing world the decision to assume control of bottling again comes as no surprise.
PepsiCo has offered $29.50 per share for PBG and $23.37 for PAS. the stocks closed on Friday at $25.20 and $19.88 respectively.
Meanwhile PepsiCo reported better-than-expected quarterly results and confirmed its outlook for the full year. The company’s core earnings were $0.71 per share for the quarter.