Danone Ends Talks to Acquire Quaker Oats
Danone
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has become the third potential suitor to walk away from talks to buy
Quaker Oats
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.
In a brief statement issued 24 hours after it first expressed interest in acquiring Quaker, the French company said it decided against the acquisition "after a thorough analysis of the current situation at Quaker Oats" and "in light of the financial dynamics of a potential transaction." Soft-drinks giant
Coca-Cola
(KO) - Get Free Report
and
PepsiCo
(PEP) - Get Free Report
both ended talks to acquire the company.
Shares of Quaker fell ahead of the opening bell, trading lower at $80, down $7 from Wednesday's closing price of $87 on the
.
