Updates to our Terms of Use

We are updating our Terms of Use. Please carefully review the updated Terms before proceeding to our website.

Monday, July 15, 2024 | Back issues
Courthouse News Service Courthouse News Service

Shareholders Want More From Pepsi

MINNEAPOLIS (CN) - PepsiCo is squeezing out shareholders in its second-largest bottler, PepsiAmericas, in a "self-dealing ... coercive and unfair merger" at an unfair price, PepsiAmericas shareholders claim in Hennepin County Court. PepsiCo on Monday offered about $6 billion to buy back its two biggest U.S. bottlers and distributors - the Pepsi Bottling Group and PepsiAmericas - which Pepsi spun off 10 years ago.

PepsiCo already owns 43 percent of PepsiAmericas. Its offer for both bottlers was about 17 percent over the pre-merger closing price. Plaintiffs in this class action call it "a scant 17 percent." They are represented by Vernon Vander Weide, with Head, Seifert & Vander Weide.

Categories / Uncategorized

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.