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.

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.

Email *

Submit