PepsiCo Inc. agreed to take control of its two biggest bottlers for about $7.8 billion, ending a three-month standoff and allowing the world's second-largest soda maker to save money by bundling snacks and drinks , Detroit Free Press reports.
Meanwhile, Pepsico is buying its two top bottlers for $7.8 billion in a bid to save money and get new products to market faster, as consumers’ tastes are changing more quickly. The deals were sealed months after Pepsico’s first offers were rejected and 10 years after Pepsico spun off its largest bottler, Pepsi Bottling Group. It also is acquiring its No. 2 bottler, PepsiAmericas , Kansas City Star reports.
However, the second-largest soft drink maker said on Tuesday it will pay $36.50 per share for Pepsi Bottling and $28.50 per share for PepsiAmericas, representing premiums of about 45 percent and 43 percent from the bottlers' closing prices the day before Pepsi launched unsolicited bids in April.
Pepsi first offered $29.50 per share for Pepsi Bottling and $23.27 per share for PepsiAmericas. Those bids, at 17 percent premiums, were worth $6 billion , Reuters reports.