Europe clears Pepsi merger

- Last updated on GMT

Related tags: Quaker oats, Pepsico, Gatorade, European union

American snacks and soft drinks giant PepsiCo, cleared one
regulatory hurdle in its plan to acquire Quaker Oats, after
receiving approval from the European...

American snacks and soft drinks giant PepsiCo, cleared one regulatory hurdle in its plan to acquire Quaker Oats, after receiving approval from the European Commission on Tuesday. The Federal Trade Commission in the US has yet to rule on the $14bn deal, announced in December. PepsiCo​ already has a huge share of the snacks and beverage markets in the US with 32 per cent of the US soft drinks market and it owns more than half of the salty snacks category. If the company wins approval for the acquisition in the US, it will have a 37 per centshare of the non-carbonated drinks market. Quaker Oats​ owns the popular sports drink brand, Gatorade, which was the deal's main attraction. European approval came as PepsiCo and Quaker Oats mailed out a prospectus to shareholders outlining the merger. Both companies are holding special shareholder meetings on May 1 to approve the deal. Source: Financial Times

Related topics: Market Trends

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