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.
A representative for Peltz's Trian Fund Management declined to comment.