PepsiCo (PEP) Announces Final Results of Elections Regarding Merger Consideration for Bottler Acquisitions
Up)
PepsiCo, Inc. (NYSE: PEP) announced the final results of the elections made by former The Pepsi Bottling Group, Inc. (NYSE: PBG) and PepsiAmericas, Inc. (NYSE: PAS) stockholders as to the form of merger consideration they wish to receive in the acquisitions of PBG and PAS by PepsiCo. The acquisitions closed on February 26, 2010.
Of the approximately 153,024,394 shares of PBG common stock outstanding as of the closing of the acquisitions that were not held by PepsiCo or its subsidiaries, valid cash elections were made with respect to 1,671,375 shares of PBG common stock (approximately 1.1% of the outstanding shares of PBG common stock not held by PepsiCo or its subsidiaries).
Of the approximately 70,863,059 shares of PAS common stock outstanding as of the closing of the acquisitions that were not held by PepsiCo or its subsidiaries, valid cash elections were made with respect to 2,303,820 shares of PAS common stock (approximately 3.3% of the outstanding shares of PAS common stock not held by PepsiCo or its subsidiaries).
Pursuant to the merger agreements between PepsiCo and PBG and PAS, fractional shares of PepsiCo common stock will not be issued. In lieu thereof, former PBG and PAS stockholders will receive cash for their fractional share interests based on the $62.30 closing price of PepsiCo common stock on February 25, 2010 (the last trading day prior to the closing of the transactions).
[SM]
Of the approximately 153,024,394 shares of PBG common stock outstanding as of the closing of the acquisitions that were not held by PepsiCo or its subsidiaries, valid cash elections were made with respect to 1,671,375 shares of PBG common stock (approximately 1.1% of the outstanding shares of PBG common stock not held by PepsiCo or its subsidiaries).
Of the approximately 70,863,059 shares of PAS common stock outstanding as of the closing of the acquisitions that were not held by PepsiCo or its subsidiaries, valid cash elections were made with respect to 2,303,820 shares of PAS common stock (approximately 3.3% of the outstanding shares of PAS common stock not held by PepsiCo or its subsidiaries).
Pursuant to the merger agreements between PepsiCo and PBG and PAS, fractional shares of PepsiCo common stock will not be issued. In lieu thereof, former PBG and PAS stockholders will receive cash for their fractional share interests based on the $62.30 closing price of PepsiCo common stock on February 25, 2010 (the last trading day prior to the closing of the transactions).
[SM]
You May Also Be Interested In
- UPDATE: SAP's (SAP) America Unit to Buy Ariba (ARBA) for $45/Share
- Barclays Comments on Wesco Aircraft Holdings (WAIR) Acquisition of Interfast; Deal Accretive to 2013
- China Investment may nab $2B stake in Alibaba - Reuters
Create E-mail Alert Related Categories
Mergers and AcquisitionsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
