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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

New York Stock Exchange

.