Shares of both the beverage maker and snacks producer Mondelez (MDLZ) rose on a report that billionaire investor Nelson Peltz has built positions in them. Mondelez split in Oct. from Kraft Foods (KRFT), maker of Jell-O gelatins and other products. Pepsi said in a statement it doesn't need large-scale acquisitions. It's not clear how big the stakes Peltz's Trian Fund Management is reported to have taken are, but analysts said he may push for merger of the companies. PepsiCo (PEP) shares rose 3.3% to 78.64. Mondelez rose 4.1% to 29.73.
- Mergers, Acquisitions & Takeovers
- Investment & Company Information
- Nelson Peltz
- Kraft Foods