July 17, 2013 / 7:33 PM / 5 years ago

Trian's Peltz wants PepsiCo to buy Mondelez -CNBC

NEW YORK, July 17 (Reuters) - Trian Fund Management’s Nelson Peltz wants PepsiCo Inc to buy Oreo cookie maker Mondelez International Inc for $35 to $38 a share, he told CNBC on Wednesday.

The news sent Mondelez shares up 3 percent on Nasdaq. Officials from both companies were not immediately available for comment.

Peltz said he also wants PepsiCo to spin off the beverage business after buying Mondelez.

The news came a day after sources told Reuters that a timeframe agreed upon between PepsiCo and Peltz to privately address the activist investor’s suggestions for improving shareholder returns may be closing.

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