Updated from 6:11 a.m. EST with confirmation of the deal
In a press release Thursday, Pepsi said it will offer to acquire the remaining shares once the acquisition is completed.
Wimm-Bill-Dann is a leader in Russia's dairy market. It also is No. 3 in juice and No. 1 in baby food, according to the Wall Street Journal.Pepsi said the acquisition makes it the largest food-and-beverage business in Russia. The deal also will raise Pepsi's annual global revenue from nutritious and functional foods to almost $13 billion frm about $10 billion. Pepsi said the $3.8 it's paying to buy the stake in Wimm-Bill-Dann implies a total enterprise value of about $5.4 billion. Pepsi is paying $33 per ADR share, a premium of 32% to the 30-day average trading price of Wimm-Bill-Dann's ADR shares. Will-Bill-Dann's ADRs closed Wednesday at $24.50. Pepsi said it expects the transaction to be modestly accretive to earnings in the first year, excluding one-time transaction costs and fees. -- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: email@example.com.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV