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Power Player: Nelson Peltz has the munchies?

Friday, March 22, 2013 - 01:12

March 22 - American billionaire investor Nelson Peltz is stocking up on Pepsi and Oreo, according to a news report. Conway G. Gittens reports.

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The Power Player today is Nelson Peltz. The American billionaire businessman has in recent weeks been building up stakes in PepsiCo and Oreo maker Mondelez International, according to a report from Britain's Daily Telegraph. The newspaper is citing sources familiar with the matter, saying that the exact size of Peltz's stakes in the two companies is unclear. Supposedly, he's spent at least $2 billion in a concerted buying spree, in a desire to combine the two snack companies. All sides involved refused our request to comment on the report of Peltz's building stake. But as of talk of a merger, Mondelez says it's happy being single, and Pepsi says it does not have the appetite for a big deal. According to a February 14 regulatory filing, Peltz's Trian Fund Management did not hold any stock in either company as of Dec. 31, 2012. Now, this would not be the first time the activist shareholder has developed a sweet tooth or hunger for food investments, for that matter. He's been known for making big deals in the business with companies like Snapple and Cadbury. He is also a non-executive chairman of the board of Wendy's and a director at Heinz.

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Power Player: Nelson Peltz has the munchies?

Friday, March 22, 2013 - 01:12