PepsiCo (PEP -0.8%) completes its $3.8B acquisition of a two-thirds stake in Russia's Wimm-Bill-Dann Foods (WBD -0.6%) and says it will pay an identical $132/share for the remaining third. The transaction makes PepsiCo the largest food and beverage company in Russia. (PR)
Unnamed buyers of Wimm-Bill Dann (WBD), who purchased 400K ADR's in the days prior to the announcement of PepsiCo's (PEP) acquisition, have been sued by the SEC. WBD jumped more than 30% on the release of the news, giving a $2.7M profit to the sued investors.
Pepsico (PEP) to buy Russian dairy, juice, and soft drink producer Wimm-Bill-Dann (WBD) for $5.4B, a 35% premium to Wednesday's closing price. Pepsi will initially purchase 66% of the company for $3.8B and acquire the rest of the shares at a later point. (PR)