Coca-Cola Confirms Talks With Quaker Oats

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Coca-Cola

(KO) - Get Report

said it has held discussions regarding "a possible transaction" with

Quaker Oats

(OAT)

, as rumors have been building that the soft drink giant might be interested in acquiring the packaged food and drinks company.

Coca-Cola said there can be no assurance that the talks would result in a transaction.

Reports have speculated that Coca-Cola would pay about $16 billion for Quaker, the maker of Gatorade and other consumer products. Quaker is also reportedly considering a bid from French company

Danone

.

PepsiCo

(PEP) - Get Report

recently held talks to acquire Quaker for about $14 billion in stock, but that bid fell through.

Coca-Cola didn't provide any potential financial details.