Pepsi Reaffirms 2010 EPS Guidance
NEW YORK (
) --
PepsiCo
(PEP) - Get Report
reiterated its 2010 earnings guidance as it completed the $7.8 billion acquisition deal of
Pepsi Bottling
and
PepsiAmericas
.
PepsiCo reaffirmed Monday that it expects to achieve 11% to 13% core constant currency per-share earnings in 2010 and low-double-digit core constant currency EPS growth in 2011 and 2012.
PepsiCo says it has become the largest food and beverage business in North America following the mergers. The transactions are expected to create pretax synergies of about $125 million to $150 million in 2010 and about $400 million yearly by 2012. The company says some of the synergies will be reinvested in high-growth emerging markets, global research and development, and new operating capabilities.
The common stock of Pepsi Bottling and PepsiAmericas stopped trading Friday on the
New York Stock Exchange
and have been delisted.
Last week,
Coca-Cola
(KO) - Get Report
agreed to acquire
Coca-Cola Enterprises'
(CCE)
North American operations.
-- Reported by Andrea Tse in New York
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