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Article: PepsiCo Reaches Merger Agreements with Pepsi Bottling Group and PepsiAmericas.
- Article from:
- Mergers & Acquisitions Week
- Article date:
- August 19, 2009
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PepsiCo (NYSE:PEP) announced that it has entered into definitive merger agreements with The Pepsi Bottling Group, Inc. (NYSE:PBG) and PepsiAmericas, Inc. (NYSE:PAS) under which PepsiCo will acquire all of the outstanding shares of common stock it does not already own in its two largest anchor bottlers.
Under the agreements, PBG shareholders will have the option to elect either $36.50 in cash or 0.6432 shares of PepsiCo common stock (which had a value of $36.50 based on PepsiCo closing share price of $56.75 on July 31, 2009) for each share of PBG, subject to proration such that the aggregate consideration to be paid to PBG shareholders shall be 50 percent cash and ...