PEPSICO QUENCHES DEAL WITH QUAKER OATS
By Adnews Staff
PepsiCo, based in Purchase, NY is acquiring The Quakers Oats Company, based in Chicago. The all stock deal will see PepsiCo pay 2.3 shares of its stock for each share of Quaker, up to a maximum value of $105 for each Quaker share. A condition of the deal includes a provision for Quaker to pull out if the value of stock falls below $92. The sale is expected to close in the first half of 2001. Quaker Oat's brands include the sports beverage Gatorade, pancake mixes and syrups under the Aunt Jemima brand, rice and pasta products under the Rice A Roni and Pasta Roni brands and the Life and Cap'n Crunch cereal brands. PepsiCo's brands include Pepsi, Tropicana juice and Frito-Lay snack chips.
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