PepsiAmericas confirm receipt of proposal from PepsiCo

MINNEAPOLIS PepsiAmericas, Inc. confirmed Monday that it has received a non-binding proposal from PepsiCo to acquire all of the outstanding shares of PepsiAmericas’ common stock that are not already owned by PepsiCo for $23.27 per share, consisting of $11.64 per share in cash, plus 0.223 shares of PepsiCo common stock.

PepsiAmericas’ board of directors will review the proposal carefully and determine the appropriate response, the company stated. The company also stated that they have advised shareholders to take no action, pending the review by the board of directors.

PepsiAmericas is the world’s second-largest manufacturer, seller and distributor of PepsiCo beverages.