Report: PepsiCo Bid to Acquire Quaker Oats Falls Apart
(Updated from 6:46 p.m. Thursday.)
Gatorade and Pepsi just don't mix well.
The Wall Street Journal
reported in its Friday edition that
PepsiCo
(PEP) - Get PepsiCo Inc. Report
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wasn't able to buy
Quaker Oats
(OAT)
, maker of Gatorade and other consumer products. The paper said the two companies could not agree on a price.
Pepsi had been holding talks to acquire Quaker Oats for about $14 billion in stock.
PepsiCo is believed to have offered slightly more than two of its shares for each Quaker share, which would value Quaker at close to $100 a share, according to a report yesterday. Quaker closed Thursday at $82.25, while PepsiCo closed at $47.06 in
New York Stock Exchange trading.
