Tel Aviv – PepsiCo Inc
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The Calcalist, an Israeli financial newspaper, reported that PepsiCo has made an offer through Goldman Sachs
A PepsiCo spokesman told Reuters on Thursday that “the rumor is untrue” and reiterated the company’s position that it sees no need for large acquisitions.
SodaStream’s shares were up 7.7 percent in premarket trading after closing at $69.35 on Wednesday.
Calcalist reported estimates that PepsiCo was willing to go higher than $2 billion and might agree to pay as much as $95 per share.
SodaStream, which also makes flavors, carbon dioxide refills and re-usable bottles, was listed on Nasdaq in 2010 and has a market valuation of $1.4 billion.
Officials at SodaStream were not immediately available for comment.
Calcalist said PepsiCo was interested in SodaStream’s potential to expand in the United States after its U.S. sales doubled in 2012.
Calcalist said SodaStream was checking its options for a deal with Coca Cola Co
Global sales at SodaStream, which sells at upscale department stores such as Harrods as well as at budget chains like U.S. group Target Corp
HOLY MOLEY BATMAN, 2 Billion with a B?!?!?!
A little disconcerting. I don’t mind if Pepsico wants to pay to spread their brand around, but I’m worried they’d just be buying them out to eliminate the competition to keep us drinking soda rather than being able to make my own.