Action Alerts Plus holding PepsiCo  (PEP - Get Report) could be in play, suggests Macquarie. The price tag won't be cheap: the analyst's sum-of-the-parts analysis pegs PepsiCo's business being worth $217 billion. PepsiCo's market cap at last check was $156 billion.

Kraft Heinz  (KHC - Get Report)  (backed by 3G Capital) would seem like a logical bidder.

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