PepsiCo says it doesn't need a big acquisition
Nick Laham/Getty Images
NEW YORK PepsiCo (PEP) issued a statement Friday saying it doesn't see the need for any major acquisitions after a newspaper report suggested activist investor Nelson Peltz could push for a merger between the snack-and-soda giant and Oreo cookie maker Mondelez International.
The Telegraph of London reported that Peltz has taken stakes in both companies.
In a short statement, the Purchase, New York-based company said that it doesn't comment on market rumor or speculation.
"As we've said before, we are making strong progress in our strategy to deliver long-term growth and create shareholder value," the company said.
Mondelez International (MDLZ), which split from Kraft Foods Group (KRFT) last year, also said it was satisfied with its portfolio as it stands.
A representative for Peltz's Trian Fund Management declined to comment.
Popular on MoneyWatch
- How to stop the mediocrity pandemic
- Reverse cell phone lookup service is free and simple
- Apple's Cook says company doesn't use "tax gimmicks"
- Top five 529 college plans
- LinkedIn: 3 tips for building a better profile
- Top 10 professional life coaching myths
- Amy's Baking Company: Post-meltdown PR campaign
- How to organize your job hunt
In a free market, companies can do what they want... and nobody minded "hostile takeovers" in the 1980s and such...
Sorry Pepsi. Corporate conglomerates seem to want it both ways... your turn to lump it.