Less than a month after

PepsiCo

(PEP) - Get Report

failed in its bid to buy

Quaker Oats

(OAT)

, rival

Coca-Cola

(KO) - Get Report

is looking to pay approximately $16 billion for Quaker, the maker of Gatorade and other consumer products.

Quaker is also reportedly considering a bid from French company

Danone

.

Pepsi and Quaker reportedly could not

agree on a price. Pepsi had been holding talks to acquire Quaker Oats for more than $14 billion in stock.

What's the draw? The beverage makers want to get popular Gatorade under their label.