Activist shareholder Nelson Peltz dialed up pressure on PepsiCo Inc, saying it should buy Mondelez International Inc for more than $62 billion and spin off its soft drink business.
Peltz, a force behind some of the global food industry's biggest deals, finally laid out his vision for what would be a snack food powerhouse, three months after reporting ownership stakes in each company that sparked rampant Wall Street speculation.
PepsiCo is at a "strategic crossroads," Trian said, adding that the status quo was "unsustainable."