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US: PepsiAmericas forms review committee for PepsiCo bid

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Soft drinks bottler PepsiAmericas has formed a transaction committee to review the takeover bid made by PepsiCo.

PepsiCo this week launched a US$6bn bid to buy the outstanding shares in The Pepsi Bottling Group (PBG) and PepsiAmericas.

PepsiCo currently owns 33% of shares of PBG and 43% of shares of PepsiAmericas.

The PepsiAmericas transaction committee comprises independent directors and has begun to review the non-binding proposal, the bottler said today (24 April). 

Goldman, Sachs & Co., Briggs and Morgan and Sullivan & Cromwell have been retained as advisors.


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