USA: PepsiAmericas Served With Compliant on Whitman Transaction
PepsiAmericas, Inc. (NYSE: PAS) announced that a purported class action lawsuit has been filed in the District Court in Hennepin County Minnesota seeking primarily to enjoin the merger of PepsiAmericas and Whitman Corporation. The complaint, which was filed by Randy Cox, a purported stockholder of PepsiAmericas, names PepsiAmericas, Dakota Holdings, LLC and the directors of PepsiAmericas as defendants.The complaint alleges that the consideration to be paid to the public shareholders of PepsiAmericas in the merger is unfair and inadequate. The plaintiff seeks, among other things, class action certification, a declaration that the merger agreement with Whitman is unenforceable, and preliminary and permanent injunction from proceeding with or closing the proposed merger unless and until PepsiAmericas implements a procedure to obtain the highest price for its shareholders.PepsiAmericas believes that the allegations contained in the complaint are without merit and intends to vigorously defend the action.PepsiAmericas manufactures, distributes and markets PepsiCo soft drinks, Seven-Up and other products in exclusive franchise territories that include Puerto Rico, Jamaica portions of Arkansas, Iowa, Louisiana, Minnesota, Mississippi, North Dakota, South Dakota, Tennessee and Texas. PepsiCo, Inc. (NYSE: PEP) holds a 24 percent equity interest in PepsiAmericas.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 15 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- Spirits - Where does 'Craft' End and 'Mass' Begin?
- Brewers go Crazy over Flavoured Malt “Cocktails”
- What do A-B InBev results mean for SABMiller deal?
- Anheuser-Busch InBev's FY Performance by Region
- Much Work to do on Packaging in the US
- Diageo "smart bottle" targets consumers at home
- Tesco reinstates Dan Jago following suspension
- Tough US hits Mast-Jagermeister volumes in 2014
- George Clooney launches Tequila Casamigos in UK
- Pernod Ricard's Havana Club Union
- Wine, 2014 and the future
- Spirits and RTDs, 2014 and the future
- Global RTD/RTS insights - market forecasts, product innovation and consumer trends research
- Beam Suntory Inc. - Strategy and SWOT Report