Update Pepsico (PEP)
posted on August 4, 2009 at 3:00 pm
The deal is done.
On August 4, PepsiCo (PEP) announced that it had completed deals to buy all the remaining shares of it5s tow biggest bottlers, Pepsi Bottling (PBG) and Pepsi Americas (PAS). The price is about $1 billion more than PepsiCo originally offered. (The total comes to $7.8 billion.) But that’s less than I was afraid PepsiCo would have to offer to get control of these bottlers, especially after they both announced better than expected earnings for the second quarter.
On the news, I’m going to raise my target price for PepsiCo in my Jubak’s Picks portfolio. Read more
