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European Commission clears PepsiCo's acquisition of Pepsi Bottling Group

Oct 28, 2009 (M2 EQUITYBITES via COMTEX) --

Companies: Pepsi Bottling Group, Inc. (The) (PBG), PepsiCo, Inc. (PEP)

The European Commission said on Tuesday that it has cleared the proposed acquisition by US food and beverage company PepsiCo Inc (NYSE:PEP) of one of its bottlers, Pepsi Bottling Group Inc (NYSE:PBG).

Following an investigation the Commission concluded that the deal would not significantly impede effective competition in the European Economic Area (EEA).

PepsiCo already owns 33% of Pepsi Bottling Group and in August it announced an agreement to acquire the outstanding shares for USD36.50 per share. The bottling company was previously spun off from PepsiCo in 1999. 

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Companies: Pepsi Bottling Group, Inc. (The) (PBG), PepsiCo, Inc. (PEP)


Related terms: acquisition, investigation, nyse

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