US: PepsiCo to refile bottlers buyout application with FTC
PepsiCo originally filed its notification and report forms with the Federal Trade Commission (FTC) on 11 September.
Following informal discussions with the FTC on Friday (9 October), PepsiCo has withdrawn both its Pepsi Bottling Group (PBG) and PepsiAmericas (PAS) notification and report forms effective 13 October.
The company said it will refile them on 15 October in order to allow more time for the FTC staff to review the proposed transactions.
A reason for the move was not given.
PepsiCo said it will continue to respond to any informal requests by staff to provide additional information about the businesses of PepsiCo, PBG and PAS.
Upon refiling of both notification and report forms, the FTC will have a 30-day period in which to determine whether to issue a request for additional information or close its investigation.
The new waiting period under the HSR Act will expire at 11:59 pm, New York City time, on 16 November, unless this period is earlier terminated or extended.
Falling costs and investments in innovation helped PepsiCo report a solid profit performance in its third quarter of 2009 last week, despite a dip in revenues.
The UK soft drinks market grew by 2% in value in 2009, enough for sales in the on-trade to climb ahead of spirits to take the number two spot behind beer....
US soft drinks giant PepsiCo has said it is targeting growth in China following recent Government approval to build of 14 new beverage plants by the Chinese government....
Soft drinks firm Britvic is to launch an energy version of Mountain Dew in the UK to capture growing consumer thirst for energy drinks....
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