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Dividend.com: Pepsi Bottling Miffed

Stock quotes in this article: EL , PEP , PBG , PAS , MCY , ETR  

Pepsi Bottling Group Rejects Combined $6 Billion PepsiCo Takeover Offer

The Pepsi Bottling Group(PBG Quote) said Monday that it is refusing PepsiCo's(PEP Quote) proposed $6 billion acquisition offer, calling the bid "grossly inadequate."

Pepsi Bottling, which manufactures, distributes and sells PepsiCo's products, said that the $29.50 per share offer made on April 20 does not reflect the company's "true value."

Soft drink giant PepsiCo made a similar offer for its other main bottler, PepsiAmericas(PAS Quote), which has so far not made a decision regarding the bid. ...

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