April 20, 2009 / 9:33 AM / 11 years ago

FACTBOX-PepsiCo offers to buy bottlers in $6 bln deal

April 20 (Reuters) - PepsiCo Inc PEP.N, the world’s No. 2 maker of soft drinks, has proposed buying the outstanding shares it does not own in its two largest bottlers, Pepsi Bottling Group PBG.N and PepsiAmericas PAS.N, in a $6 billion cash and stock deal. [ID:nBNG132692]

Following is a summary of details of the deal:

TERMS * $29.50 per share in cash and stock for Pepsi Bottling * $23.27 per share in cash and stock PepsiAmericas * Offer represents 17 pct premium to Friday’s close

EXISTING RELATIONSHIP * PepsiCo owns 33.1 percent of the outstanding common stock and 100 percent of the outstanding Class B common stock in Pepsi Bottling, as of Feb. 13 * PepsiCo owns about 54 million shares in PepsiAmericas, or 43.2 percent of common stock, as of March 10

FINANCIAL HEALTH? PepsiCo cash and cash equivalents as of March 21 — $2.19 bln PepsiCo long-term debt obligations as of March 21 — $9.24 bln PepsiCo shares outstanding as of March 21 — 1.57 bln Pepsi Bottling FY 2008 net income of $162 mln, or $0.74/shr PepsiAmericas FY 2008 net income of $226.4 mln, or $1.78/shr

Reporting by Jennifer Robin Raj in Bangalore; Editing by Rupert Winchester

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