PepsiCo Buys SodaStream in Deal Valued at $3.2Bln
20 August 2018 - 5:02PM
Dow Jones News
By Donato Paolo Mancini
PepsiCo Inc. (PEP) will acquire all outstanding shares in
SodaStream International Ltd. (SODA) in a deal valued at $3.2
billion, the companies said Monday.
PepsiCo will acquire all outstanding shares in SodaStream for
$144 a share in cash, and will be funded with PepsiCo's cash on
hand, the companies said.
The price represents a 32% premium to the 32-day volume weighted
average price for the stock, the companies said.
"PepsiCo and SodaStream are an inspired match," PepsiCo
Chairwoman and CEO Indra Nooyi said. The companies will combine
PepsiCo's distribution capabilities and global reach with
SodaStream's differentiated product range.
The boards of directors at both companies have unanimously
approved the transaction and the deal is expected to close by
January 2019, subject to a SodaStream shareholder vote, regulatory
approvals and customary conditions.
Write to Donato Paolo Mancini at
donatopaolo.mancini@dowjones.com
(END) Dow Jones Newswires
August 20, 2018 02:47 ET (06:47 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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