Tags: Reports | Say | Coca-Cola | May | Acquire | Quaker | Oats

Reports Say Coca-Cola May Acquire Quaker Oats

Sunday, 19 November 2000 12:00 AM

The Financial Times, the Wall Street Journal and the New York Times reported on their Web sites that the Atlanta-based soft-drink company is in the advanced stages of talks to acquire Quaker Oats, the Chicago-based maker of Gatorade and various breakfast cereals.

Coke's is offering to pay more than $15 billion, or more than $115 for each share of Quaker Oats stock, the Financial Times reported. However, the newspaper said some members of Coca-Cola's board of directors oppose the proposed deal. Citing executives close to the negotiations, the New York Times said Coca-Cola's board would meet Tuesday to discuss the possibility of acquiring Quaker Oats.

Quaker Oats' chief executive Robert Morrison rejected as too low a $14.8 billion bid two weeks ago by PepsiCo that would have offered 2.3 shares for every Quaker share. The Financial Times said Quaker's board met over the weekend to consider bids from Coca-Cola and Danone S.A., a French-based company that made unsuccessful bids for Nabisco and Keebler earlier this year.

The board of Quaker Oats has questions as to whether Danone has the financial resources to finance an all-stock transaction, the New York Times said.

Analysts said Coca-Cola would probably have to sell its PowerAde sports drink to avoid antitrust problems. Gatorade has 73 percent of the sports drink market and PowerAde has 15 percent.

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The Financial Times, the Wall Street Journal and the New York Times reported on their Web sites that the Atlanta-based soft-drink company is in the advanced stages of talks to acquire Quaker Oats, the Chicago-based maker of Gatorade and various breakfast cereals. Coke's...
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2000-00-19
Sunday, 19 November 2000 12:00 AM
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