Nelson Peltz of Trian Partners has apparently begun the process of speaking with PepsiCo, Inc. (NYSE:PEP) shareholders about spinning off the company’s snack and beverage businesses into two separate companies. That’s according to CNBC, which reports that he has already spoken with a number of shareholders who have reacted positively to him.
Peltz said in his firm’s quarterly letter last month that they continued to believe that the best course of action for PepsiCo, Inc. (NYSE:PEP) is to separate its two businesses. The company, however, said that it had no plans to do that after it conducted a lengthy review process. Peltz’s response was that he would take the issue to Pepsi shareholders, which he has now begun to do. He said he would “relentlessly” take their case to “every major shareholder of Pepsi in the coming weeks” because they feel very strongly about their plan.
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He said the facts support his belief that PepsiCo, Inc. (NYSE:PEP) should split its busin