US: PepsiCo withdraws acquisition filing for bottlers

By | 11 November 2009

PepsiCo has temporarily withdrawn documents filed with US the Federal Trade Commission on its acquisition of all outstanding shares in Pepsi Bottling Group and PepsiAmericas.

PepsiCo said late yesterday (10 November) that it has withdrawn the forms to "provide the Federal Trade Commission (FTC) with more time to review the information submitted by PepsiCo without requiring a Request for Additional Information".

It is the second time the soft drinks giant has withdrawn the forms, which were originally filed with the FTC on 11 September but were refiled on 15 October.

In an attempt to reassure the market, PepsiCo said: "PepsiCo remains committed to working cooperatively with the FTC as it conducts its review of the proposed transactions and continues to expect to close both transactions by late 2009 or early 2010."

Last month, PepsiCo gained EU clearance for the US$7.8bn acquisition of its two main bottlers.

The three signed a deal in August after PepsiCo raised its offer to US$36.5 and $28.5 per share for Pepsi Bottling Group (PBG) and PepsiAmericas respectively.

Sectors: Soft drinks, Water

Companies: PepsiCo, Pepsi Bottling, PepsiAmericas

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