FTC Grants Early Termination of HSR Waiting Period for PepsiCo Merger; PepsiAmericas Announces Departure of Senior Executives
25 Febrero 2010 - 5:30PM
Business Wire
PepsiAmericas, Inc. (NYSE: PAS) today announced that the Federal
Trade Commission (FTC) has granted early termination of the waiting
period under the Hart-Scott-Rodino Antitrust Improvements Act of
1976, as amended, for its previously announced agreement and plan
of merger with PepsiCo, Inc. (NYSE: PEP). PepsiAmericas and PepsiCo
plan to close the merger, which remains subject to the satisfaction
of customary closing conditions, after the market closes on
February 26, 2010.
Several members of the company’s leadership team will be leaving
their posts shortly after the closing of the company’s merger with
PepsiCo.
The officers who have signaled their intent to leave include
Alexander H. Ware, executive vice president and chief financial
officer; Anne D. Sample, executive vice president of worldwide
human resources; and Jay S. Hulbert, executive vice president of
global supply chain.
In October 2009, Kenneth E. Keiser, PepsiAmericas’ president and
chief operating officer, notified the company of his decision to
leave when the closing of the company’s merger with PepsiCo
occurs.
“We have reached a natural transition point,” said Robert C.
Pohlad, PepsiAmericas chairman and chief executive officer. “Each
of these talented and thoughtful leaders made a commitment to see
the merger through and now, thanks to the hard work of our entire
team, their work is complete.
“Not only are these people exceptional executives at the top of
their games, but I consider each of them friends,” continued
Pohlad. “I fully support their decisions and appreciate the
dedication and expertise they brought to our company. On behalf of
the board, management team and employees, I want to thank Ken,
Alex, Anne and Jay for their countless contributions to
PepsiAmericas’ success.”
PepsiAmericas’ Minneapolis headquarters office, which houses
approximately 20 individuals, is scheduled to close mid-March,
2010.
About PepsiAmericas
PepsiAmericas is the world's second-largest manufacturer, seller
and distributor of PepsiCo beverages. With annual sales of $4.4
billion in 2009, PepsiAmericas serves territories with a population
of more than 240 million in a significant portion of a 19-state
region in the U.S.; Central and Eastern Europe, including Ukraine,
Poland, Romania, Hungary, the Czech Republic and Slovakia; and
through our joint venture, the Caribbean and Central America. For
more information, please visit www.pepsiamericas.com.
This release contains certain forward-looking statements of
expected future developments, as defined in the Private Securities
Litigation Reform Act of 1995. The forward-looking statements in
this release refer to our expectations regarding continuing
operating improvement and other matters. These forward-looking
statements reflect our expectations and are based on currently
available data; however, actual results are subject to future risks
and uncertainties, which could materially affect actual
performance. Risks and uncertainties that could affect such
performance include, but are not limited to, the following: the
outcome of, or developments concerning, our pending merger with
PepsiCo; competition, including product and pricing pressures;
changing trends in consumer tastes; changes in our relationship
and/or support programs with PepsiCo and other brand owners; market
acceptance of new product and package offerings; weather
conditions; cost and availability of raw materials; changing
legislation, including tax laws; cost and outcome of environmental
claims; availability and cost of capital, including changes in our
debt ratings; labor and employee benefit costs; unfavorable foreign
currency rate fluctuations; cost and outcome of legal proceedings;
integration of acquisitions; failure of information technology
systems; and general economic, business, regulatory and political
conditions in the countries and territories where we operate. For
additional information on these and other risks and uncertainties
that could cause our actual results to materially differ from those
set forth herein, please see our SEC reports, including "Risk
Factors" in our 2009 Annual Report on Form 10-K. We undertake no
obligation to update any of the forward-looking statements set
forth herein. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as to the date
hereof.
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