FastSaying

Pepsi clearly wants Quaker for strategic reasons. Their offer is still a substantial premium to where Quaker Oats is trading. The reason they walked away the first time is because they had Coca-Cola waiting in the wings. They no longer have that luxury.

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It's still a nice premium to where Quaker had been trading at before the first talks were announced. When the valuation climbed to more than $100 per share, we were calling it 'generous.' The high-90s is a very fair price.
— John O'Neil
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The issue here is Coke's intent. If they want Quaker Oats' businesses, they have the financial muscle to get it done.
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With the stock trading at premium multiples and momentum investors exiting the stock, it may take some time ... to re-establish an upward trend.
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Pepsi is the second-most-recognized beverage brand in the world after Coke, and eighteen of PepsiCo's other brands, which include Tropicana, Gatorade, and Quaker Oats, are billion-dollar businesses in their own right.
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We're not going to sit there and brood over it by any means. We made a substantial offer and did tie up a considerable amount of money. We had another plan should that not work out and we feel extremely comfortable with our defense right now.
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