SodaStream (SODA) Rumors, Denials Swirl
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What's going out on at SodaStream (NASDAQ: SODA)? Shares have been on a roller-coaster ride early Thursday following rumors of a possible takeover by PepsiCo (NYSE: PEP), which were later denied. Other reports suggest Coca-Cola (NYSE: KO) could be targeting the company either for a strategic cooperation or acquisition.
Shares of SodaStream were up over 30% early on reports from Israel's Calcalist today that PepsiCo (NYSE: PEP) might be looking to acquire SodaStream for over $2 billion. Later PepsiCo CEO Indra Nooyi said that it was the "first time" she was hearing about the talks, according to Bloomberg. CNBC collaborated the denial from PepsiCo, which said the rumors were down right "false."
The story took a twist after Israel's other paper - Globes - reported that not only do talks focus on a deal with PepsiCo but also rival Coca-Cola was mentioned.
Globes said: "SodaStream International Ltd. (Nasdaq: SODA) is holding talks with soft drink giants PepsiCo Inc. (NYSE: PEP) and the Coca-Cola Company (NYSE: KO). The talks began about a month ago with each of the companies and are in early stages and it is not yet clear whether an acquisition or strategic cooperation is being considered."
After collapsing on the denial, shares of SodaStream are now stabilizing as adding Coca-Cola into the mix will keep the rumor mill going.
Traders may believe where there is smoke there is fire.
SodaStream for its part is not talking. "We do not comment on rumor and speculation," said spokeswoman Yonah Lloyd.
Shares of SODA last traded at $74, up 6.7%.
Shares of SodaStream were up over 30% early on reports from Israel's Calcalist today that PepsiCo (NYSE: PEP) might be looking to acquire SodaStream for over $2 billion. Later PepsiCo CEO Indra Nooyi said that it was the "first time" she was hearing about the talks, according to Bloomberg. CNBC collaborated the denial from PepsiCo, which said the rumors were down right "false."
The story took a twist after Israel's other paper - Globes - reported that not only do talks focus on a deal with PepsiCo but also rival Coca-Cola was mentioned.
Globes said: "SodaStream International Ltd. (Nasdaq: SODA) is holding talks with soft drink giants PepsiCo Inc. (NYSE: PEP) and the Coca-Cola Company (NYSE: KO). The talks began about a month ago with each of the companies and are in early stages and it is not yet clear whether an acquisition or strategic cooperation is being considered."
After collapsing on the denial, shares of SodaStream are now stabilizing as adding Coca-Cola into the mix will keep the rumor mill going.
Traders may believe where there is smoke there is fire.
SodaStream for its part is not talking. "We do not comment on rumor and speculation," said spokeswoman Yonah Lloyd.
Shares of SODA last traded at $74, up 6.7%.
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