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Less than a month after


(PEP) - Get PepsiCo Inc. Report

failed in its bid to buy

Quaker Oats


, rival


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(KO) - Get Coca-Cola Company (The) 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



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.