PepsiCo announces merger of its two subsidiaries
By Audience Matters News Desk
Friday, February 19, 2010
 PepsiCo Inc, the food and beverage major has announced the merger of its two subsidiaries – The Pepsi Bottling Group Inc (PBG) and PepsiAmericas Inc (PAS).
As per the announcement, the company has approved and adopted their respective merger agreements with PepsiCo and Pepsi-Cola Metropolitan Bottling Company, Inc. (Metro), a wholly-owned subsidiary of PepsiCo, pursuant to which each of PBG and PAS will be merged with Metro, while Metro will continue as the surviving corporation.
Approximately 86.5 per cent of shares of PAS were put to vote, while approximately 99.7 per cent PAS shares holders had voted to adopt the merger agreement with respect to PAS.
While, more than 99 per cent of the votes were cast by holders of shares of PBG, voting separately as a single class, and more than 81 per cent of the combined voting power of PBG common stock and PBG Class B has voted to adopt the merger agreement with respect to PAS.
PepsiCo hopes to close the acquisitions, which remain subject to regulatory approvals and the satisfaction of other customary closing conditions, by the end of February 2010.
With main businesses in Frito-Lay, Quaker, Pepsi-Cola, Tropicana and Gatorade in over 200 countries, PepsiCo announced a total revenue of $43 billion in 2009.
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