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PepsiCo withdraws FTC paperwork in bottler buyouts to allow more review time, plans to refile
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PURCHASE, N.Y. - PepsiCo Inc. said Tuesday it has withdrawn paperwork related to its buyouts of its two biggest bottlers to give regulators more time to review the deal.
PepsiCo plans to buy the shares it does not already own of Pepsi Bottling Group Inc. and PepsiAmericas Inc.
The world's second-biggest soft drink maker said it withdrew the pre-merger paperwork, required by the Hart-Scott-Rudino Antitrust Improvements Act of 1976, to give the FTC more time to review the deal. It said it will refile at the appropriate time.
It said in a statement it still expects to close the deals by late this year or early next year.
PepsiCo also owns Frito-Lay as well as brands such as Quaker, Tropicana and Gatorade.
Its shares fell 20 cents to $62.08 on Tuesday.
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