Beverage Industry

PepsiCo refiles FTC notification

October 13, 2009

PepsiCo, Purchase, N.Y., said it has withdrawn and will refile the notification and report forms filed with the Federal Trade Commission (FTC) in order to provide the FTC an additional 30 days to review its proposal to acquire all of the outstanding shares of common stock it does not already own in Pepsi Bottling Group Inc. and PepsiAmericas Inc. under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act).
 
PepsiCo originally filed its notification and report forms on Sept. 11, but following informal discussions with FTC staff, the company said it plans to withdraw both its PBG and PAS notification and report forms, effective today, and will refile them on Oct. 15. Upon refiling, the FTC will have a 30-day period in which to determine whether to issue a Request for Additional Information (“Second Request”) or close its investigation.
 
The company added that it will continue to respond to any informal requests by FTC staff to provide additional information as needed. PepsiCo says it continues to expect to close both transactions by late this year or early 2010.