SodaStream (SODA) Rumor Mill in Overdrive after Conference Cancelled
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Adding fuel to the takeover rumor fire, SodaStream International Ltd. (NASDAQ: SODA) confirmed earlier chatter that it cancelled from an upcoming Oppenheimer conference.
The company said the cancellation was because they've had a lot of recent exposure after an investor day in Mid-May and other conferences.
In a statement to StreetInsider.com, SodaStream President Yonah Lloyd said "... as we just did a well-attended investor day in Mid-May, and I just marketed in both Baltimore and NYC last week we decided not to go out again only a few weeks later."
However, speculators think something else is afoot. The conference cancellation comes just days after rumors hit the market that PepsiCo (NYSE: PEP) would buy the company for $2 billion. PepsiCo quickly denied the rumors, but other reports suggest Coca-Cola (NYSE: KO) also has the company in its cross-hairs for a takeover or a partnership.
In a statement to StreetInsider.com last week on the chatter, Coca-Cola said: "There may have been some speculation in the media regarding a new product or deal. However, The Coca-Cola Company has not made an announcement at this time. We thank you for your interest."
Shares of SodaStream are up 5 percent to $76.32 intra-day as "big soda" rumors continue to swirl.
The company said the cancellation was because they've had a lot of recent exposure after an investor day in Mid-May and other conferences.
In a statement to StreetInsider.com, SodaStream President Yonah Lloyd said "... as we just did a well-attended investor day in Mid-May, and I just marketed in both Baltimore and NYC last week we decided not to go out again only a few weeks later."
However, speculators think something else is afoot. The conference cancellation comes just days after rumors hit the market that PepsiCo (NYSE: PEP) would buy the company for $2 billion. PepsiCo quickly denied the rumors, but other reports suggest Coca-Cola (NYSE: KO) also has the company in its cross-hairs for a takeover or a partnership.
In a statement to StreetInsider.com last week on the chatter, Coca-Cola said: "There may have been some speculation in the media regarding a new product or deal. However, The Coca-Cola Company has not made an announcement at this time. We thank you for your interest."
Shares of SodaStream are up 5 percent to $76.32 intra-day as "big soda" rumors continue to swirl.
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